Banc Funds Co. LLC decreased its stake in Triumph Bancorp Inc (NASDAQ:TBK) by 11.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 365,300 shares of the financial services provider’s stock after selling 49,496 shares during the quarter. Banc Funds Co. LLC owned approximately 1.39% of Triumph Bancorp worth $13,954,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY raised its holdings in shares of Triumph Bancorp by 33.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,958 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 1,993 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of Triumph Bancorp by 50.6% during the 2nd quarter. MetLife Investment Advisors LLC now owns 11,267 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 3,787 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Triumph Bancorp during the 3rd quarter valued at $409,000. Rhumbline Advisers grew its stake in Triumph Bancorp by 28.4% in the 2nd quarter. Rhumbline Advisers now owns 22,213 shares of the financial services provider’s stock valued at $905,000 after buying an additional 4,914 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Triumph Bancorp in the 2nd quarter valued at $650,000. Institutional investors own 85.25% of the company’s stock.
NASDAQ TBK opened at $38.21 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $982.34 million, a price-to-earnings ratio of 24.34, a P/E/G ratio of 1.68 and a beta of 0.93. Triumph Bancorp Inc has a 52-week low of $30.95 and a 52-week high of $44.70.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $67.80 million for the quarter, compared to analyst estimates of $67.43 million. Triumph Bancorp had a net margin of 15.39% and a return on equity of 10.07%. The business’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Research analysts forecast that Triumph Bancorp Inc will post 2.23 EPS for the current fiscal year.
A number of research analysts recently issued reports on TBK shares. BidaskClub upgraded shares of Triumph Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Triumph Bancorp from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, September 19th. DA Davidson raised their target price on shares of Triumph Bancorp from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, September 20th. B. Riley raised their target price on shares of Triumph Bancorp from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, September 21st. Finally, Wells Fargo & Co set a $42.00 target price on shares of Triumph Bancorp and gave the company a “hold” rating in a research note on Tuesday, October 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $46.00.
In related news, Director Richard Loren Davis purchased 1,500 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were bought at an average cost of $35.31 per share, for a total transaction of $52,965.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.40% of the company’s stock.
About Triumph Bancorp
Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through Banking, Factoring, and Corporate segments. It offers depository products, including checking, savings, and money market accounts, as well as certificates of deposit; and commercial and industrial loans, loans to purchase capital equipment, and business loans for working capital and operational purposes.
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