Triumph Bancorp (NASDAQ:TBK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Saturday. The brokerage presently has a $41.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.66% from the company’s current price.
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. “
Several other brokerages have also recently commented on TBK. Keefe, Bruyette & Woods set a $38.00 price target on shares of Triumph Bancorp and gave the stock a “buy” rating in a research report on Friday, December 22nd. BidaskClub cut shares of Triumph Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 13th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 price target on shares of Triumph Bancorp in a research report on Tuesday. Finally, Wells Fargo & Co set a $35.00 price target on shares of Triumph Bancorp and gave the stock a “buy” rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.86.
Triumph Bancorp (NASDAQ:TBK) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. Triumph Bancorp had a net margin of 17.59% and a return on equity of 8.40%. The business had revenue of $43.68 million for the quarter, compared to analysts’ expectations of $44.66 million. research analysts forecast that Triumph Bancorp will post 1.47 EPS for the current fiscal year.
In other Triumph Bancorp news, Director Maribess L. Miller bought 5,504 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $29.77 per share, with a total value of $163,854.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 6,504 shares of company stock worth $195,094 in the last three months. 12.35% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of Triumph Bancorp by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 83,915 shares of the financial services provider’s stock valued at $2,060,000 after buying an additional 8,118 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Triumph Bancorp during the second quarter valued at approximately $784,000. Principal Financial Group Inc. bought a new stake in shares of Triumph Bancorp during the second quarter valued at approximately $218,000. LSV Asset Management bought a new stake in shares of Triumph Bancorp during the second quarter valued at approximately $2,267,000. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Triumph Bancorp during the second quarter valued at approximately $3,102,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.
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Triumph Bancorp Company Profile
Triumph Bancorp, Inc is a financial holding company. Through its bank subsidiary, TBK Bank, SSB (TBK Bank), the Company offers traditional banking services, as well as commercial finance products. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate. The Factoring segment includes the operations of Triumph Business Capital with revenue derived from factoring services.
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