Zacks Investment Research upgraded shares of Triumph Bancorp Inc. (NASDAQ:TBK) from a hold rating to a buy rating in a report published on Saturday. The firm currently has $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. “

Triumph Bancorp (NASDAQ:TBK) opened at 19.82 on Friday. The firm has a market capitalization of $358.88 million, a P/E ratio of 18.49 and a beta of 0.50. Triumph Bancorp has a 1-year low of $12.63 and a 1-year high of $20.08. The company has a 50 day moving average of $19.10 and a 200 day moving average of $17.02.

Triumph Bancorp (NASDAQ:TBK) last issued its earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. Triumph Bancorp had a return on equity of 6.52% and a net margin of 15.82%. On average, equities research analysts anticipate that Triumph Bancorp will post $1.22 earnings per share for the current year.

In related news, Director Michael P. Rafferty acquired 1,593 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $17.15 per share, for a total transaction of $27,319.95. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.84% of the company’s stock.

A number of institutional investors have recently modified their holdings of TBK. State Street Corp boosted its position in shares of Triumph Bancorp by 13.3% in the first quarter. State Street Corp now owns 161,539 shares of the company’s stock valued at $2,556,000 after buying an additional 18,932 shares during the period. Renaissance Technologies LLC boosted its position in shares of Triumph Bancorp by 13.4% in the first quarter. Renaissance Technologies LLC now owns 45,000 shares of the company’s stock valued at $712,000 after buying an additional 5,300 shares during the period. Bank of Montreal Can bought a new position in shares of Triumph Bancorp during the second quarter valued at $144,000. Strs Ohio boosted its position in shares of 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 during the period. Finally, Wedge Capital Management L L P NC bought a new position in shares of Triumph Bancorp during the second quarter valued at $846,000. Institutional investors and hedge funds own 39.53% of the company’s stock.

About Triumph Bancorp

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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