Triumph Bancorp (NASDAQ:TBK) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Triumph Bancorp (NASDAQ:TBKGet Rating) from a hold rating to a strong sell rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

TBK has been the subject of a number of other research reports. StockNews.com assumed coverage on Triumph Bancorp in a report on Thursday, March 31st. They set a sell rating for the company. Piper Sandler dropped their price target on Triumph Bancorp from $106.00 to $87.00 and set a neutral rating for the company in a research note on Friday, April 22nd. B. Riley dropped their price target on Triumph Bancorp from $152.00 to $142.00 and set a buy rating for the company in a research note on Tuesday, April 12th. Raymond James dropped their price target on Triumph Bancorp from $132.00 to $125.00 and set a strong-buy rating for the company in a research note on Friday, April 22nd. Finally, Wells Fargo & Company dropped their price target on Triumph Bancorp from $107.00 to $90.00 and set an equal weight rating for the company in a research note on Friday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $104.85.

TBK opened at $71.07 on Wednesday. Triumph Bancorp has a fifty-two week low of $62.37 and a fifty-two week high of $136.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $1.79 billion, a P/E ratio of 17.90 and a beta of 1.09. The stock has a fifty day moving average of $77.35 and a 200-day moving average of $98.08.

Triumph Bancorp (NASDAQ:TBKGet Rating) last posted its earnings results on Wednesday, April 20th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.09). Triumph Bancorp had a return on equity of 13.30% and a net margin of 22.77%. During the same period last year, the company posted $1.32 EPS. On average, equities research analysts predict that Triumph Bancorp will post 3.92 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE raised its stake in Triumph Bancorp by 11.0% during the third quarter. US Bancorp DE now owns 19,906 shares of the financial services provider’s stock worth $1,993,000 after acquiring an additional 1,979 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Triumph Bancorp by 29.5% during the third quarter. Wellington Management Group LLP now owns 1,635,461 shares of the financial services provider’s stock worth $163,759,000 after purchasing an additional 372,573 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Triumph Bancorp during the fourth quarter worth about $2,563,000. USA Financial Portformulas Corp bought a new stake in shares of Triumph Bancorp during the fourth quarter worth about $31,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Triumph Bancorp by 24.1% during the third quarter. Teacher Retirement System of Texas now owns 3,807 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 740 shares during the last quarter. 85.69% of the stock is owned by hedge funds and other institutional investors.

About Triumph Bancorp (Get Rating)

Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides various banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through four segments: Banking, Factoring, Payments, and Corporate.

See Also

Get a free copy of the Zacks research report on Triumph Bancorp (TBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Triumph Bancorp (NASDAQ:TBK)

Receive News & Ratings for Triumph Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triumph Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.