Triumph Bancorp Inc. (NASDAQ:TBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm currently has a $22.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.00% from the stock’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. “

Shares of Triumph Bancorp (NASDAQ:TBK) opened at 19.82 on Friday. The firm has a market cap of $358.88 million, a PE ratio of 18.49 and a beta of 0.50. The company’s 50-day moving average is $19.10 and its 200-day moving average is $17.02. Triumph Bancorp has a 52 week low of $12.63 and a 52 week high of $20.08.

Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. Triumph Bancorp had a net margin of 15.82% and a return on equity of 6.52%. Analysts forecast that Triumph Bancorp will post $1.22 EPS for the current fiscal year.

In other news, Director Michael P. Rafferty acquired 1,593 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were bought at an average price of $17.15 per share, for a total transaction of $27,319.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.84% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. American International Group Inc. raised its stake in Triumph Bancorp by 2.3% in the second quarter. American International Group Inc. now owns 8,906 shares of the company’s stock worth $142,000 after buying an additional 204 shares in the last quarter. Bank of Montreal Can purchased a new stake in Triumph Bancorp during the second quarter worth about $144,000. Spark Investment Management LLC purchased a new stake in Triumph Bancorp during the second quarter worth about $190,000. Parametric Portfolio Associates LLC raised its stake in Triumph Bancorp by 36.5% in the second quarter. Parametric Portfolio Associates LLC now owns 13,823 shares of the company’s stock worth $221,000 after buying an additional 3,697 shares in the last quarter. Finally, Strs Ohio raised its stake in Triumph Bancorp by 9.5% in the second quarter. Strs Ohio now owns 19,700 shares of the company’s stock worth $315,000 after buying an additional 1,715 shares in the last quarter. Institutional investors 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.

5 Day Chart for NASDAQ:TBK

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