Lord Abbett & CO. LLC Sells 5,100 Shares of Triumph Bancorp, Inc. (NASDAQ:TBK)

Lord Abbett & CO. LLC lessened its stake in shares of Triumph Bancorp, Inc. (NASDAQ:TBK) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,918 shares of the financial services provider’s stock after selling 5,100 shares during the quarter. Lord Abbett & CO. LLC owned about 0.71% of Triumph Bancorp worth $17,815,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TBK. Commonwealth Equity Services LLC bought a new position in shares of Triumph Bancorp during the 3rd quarter worth about $227,000. Teacher Retirement System of Texas lifted its position in Triumph Bancorp by 17.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,067 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 462 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in Triumph Bancorp by 6.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,219 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 195 shares in the last quarter. Man Group plc bought a new position in Triumph Bancorp in the 2nd quarter valued at about $260,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Triumph Bancorp in the 2nd quarter valued at about $297,000. 83.72% of the stock is currently owned by institutional investors.

TBK has been the subject of several analyst reports. Zacks Investment Research lowered shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 7th. B. Riley increased their price objective on shares of Triumph Bancorp from $153.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, December 3rd. Wells Fargo & Company increased their price objective on shares of Triumph Bancorp from $90.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, October 7th. Finally, Raymond James increased their price objective on shares of Triumph Bancorp from $112.00 to $148.00 and gave the company a “strong-buy” rating in a research note on Friday, October 22nd. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $126.61.

In other Triumph Bancorp news, EVP Gail Lehmann sold 7,917 shares of the firm’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $117.84, for a total value of $932,939.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Loren Davis sold 1,573 shares of the firm’s stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $124.68, for a total transaction of $196,121.64. The disclosure for this sale can be found here. Insiders sold a total of 40,898 shares of company stock valued at $4,954,249 over the last quarter. 6.23% of the stock is owned by company insiders.

Shares of TBK stock opened at $119.89 on Friday. Triumph Bancorp, Inc. has a 12-month low of $55.31 and a 12-month high of $136.01. The firm has a market cap of $3.01 billion, a P/E ratio of 26.12 and a beta of 0.89. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $123.45 and a 200-day moving average of $100.86.

Triumph Bancorp (NASDAQ:TBK) last released its quarterly earnings data on Tuesday, October 19th. The financial services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.14). Triumph Bancorp had a net margin of 27.40% and a return on equity of 16.52%. The business had revenue of $103.83 million during the quarter, compared to analysts’ expectations of $107.66 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, equities analysts expect that Triumph Bancorp, Inc. will post 4.43 EPS for the current year.

Triumph Bancorp Profile

Triumph Bancorp, Inc operates as a financial holding company which offers traditional banking and financial solutions. It operates through the following segments: Factoring, Banking and Corporate. The Factoring segment includes the operations of Triumph Business Capital which offers factoring services.

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Institutional Ownership by Quarter for Triumph Bancorp (NASDAQ:TBK)

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