Zacks Investment Research upgraded shares of Triumph Bancorp Inc. (NASDAQ:TBK) from a hold rating to a buy rating in a research note issued to investors on Saturday morning. They currently have $22.00 price objective on the stock.
According to Zacks, “Triumph Bancorp Inc. is a financial holding company with a diversified line of community banking, commercial finance and asset management activities. It serves its local communities through its two wholly owned bank subsidiaries, Triumph Savings Bank, SSB and Triumph Community Bank, N.A. These operations include a full suite of lending and depository products and services focused on meeting the needs of its customers in its community banking markets. It serves a broad national customer base through its commercial finance brands, which include discount factoring through Triumph Business Capital, equipment lending and general asset based lending through Triumph Commercial Finance, healthcare asset based lending through Triumph Healthcare Finance, commercial insurance through Triumph Insurance Group, institutional asset management services through Triumph Capital Advisors. Triumph Bancorp Inc. is headquartered in Dallas, Texas. “
Shares of Triumph Bancorp (NASDAQ:TBK) opened at 19.82 on Friday. The stock has a market capitalization of $358.88 million, a price-to-earnings ratio of 18.49 and a beta of 0.50. The stock’s 50 day moving average price is $19.10 and its 200-day moving average price is $17.02. Triumph Bancorp has a 12 month low of $12.63 and a 12 month high of $20.08.
Triumph Bancorp (NASDAQ:TBK) last announced its earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Triumph Bancorp had a net margin of 15.82% and a return on equity of 6.52%. Equities analysts forecast that Triumph Bancorp will post $1.22 earnings per share for the current fiscal year.
In other news, Director Michael P. Rafferty bought 1,593 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average cost of $17.15 per share, with a total value of $27,319.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.84% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. American International Group Inc. boosted its position in Triumph Bancorp by 2.3% in the second quarter. American International Group Inc. now owns 8,906 shares of the company’s stock valued at $142,000 after buying an additional 204 shares in the last quarter. Bank of Montreal Can bought a new position in Triumph Bancorp during the second quarter valued at approximately $144,000. Spark Investment Management LLC bought a new position in Triumph Bancorp during the second quarter valued at approximately $190,000. Parametric Portfolio Associates LLC boosted its position in Triumph Bancorp by 36.5% in the second quarter. Parametric Portfolio Associates LLC now owns 13,823 shares of the company’s stock valued at $221,000 after buying an additional 3,697 shares in the last quarter. Finally, Strs Ohio boosted its position in Triumph Bancorp by 9.5% in the second quarter. Strs Ohio now owns 19,700 shares of the company’s stock valued at $315,000 after buying an additional 1,715 shares in the last quarter. Institutional investors and hedge funds own 39.53% of the company’s stock.
Triumph Bancorp Company Profile
Triumph Bancorp, Inc is a financial holding company. Through its bank subsidiary, TBK Bank, SSB (TBK Bank), the Company offers banking services, as well as commercial finance products to businesses that require specialized financial solutions. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate.