Triumph Bancorp, Inc. (TBK) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Triumph Bancorp, Inc. (NASDAQ:TBK) from a hold rating to a buy rating in a research report report published on Tuesday, July 11th. They currently have $28.00 target price on the financial services provider’s 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. “
Several other equities research analysts have also recently commented on the company. Wells Fargo & Company raised Triumph Bancorp from a market perform rating to an outperform rating and set a $27.00 price target for the company in a report on Friday, May 26th. TheStreet raised Triumph Bancorp from a c rating to a b rating in a research note on Wednesday, May 17th. Piper Jaffray Companies cut Triumph Bancorp from an overweight rating to a neutral rating and set a $24.00 target price for the company. in a research note on Monday, April 24th. FBR & Co reissued an outperform rating and set a $30.00 target price on shares of Triumph Bancorp in a research note on Friday, March 24th. Finally, DA Davidson started coverage on Triumph Bancorp in a research note on Tuesday, March 21st. They set a buy rating and a $31.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $29.40.
Triumph Bancorp (NASDAQ TBK) opened at 28.05 on Tuesday. The company has a market cap of $505.71 million, a P/E ratio of 16.85 and a beta of 0.78. The stock’s 50 day moving average price is $25.52 and its 200 day moving average price is $25.00. Triumph Bancorp has a 52-week low of $17.01 and a 52-week high of $29.25.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.32 by $0.19. Triumph Bancorp had a return on equity of 7.85% and a net margin of 15.93%. The firm had revenue of $43.76 million during the quarter, compared to analysts’ expectations of $39.38 million. Analysts expect that Triumph Bancorp will post $1.96 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in Triumph Bancorp by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 83,915 shares of the financial services provider’s stock worth $2,060,000 after buying an additional 8,118 shares during the period. Wedge Capital Management L L P NC raised its position in Triumph Bancorp by 34.0% in the second quarter. Wedge Capital Management L L P NC now owns 45,700 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 11,600 shares during the period. Hodges Capital Management Inc. raised its position in Triumph Bancorp by 12.3% in the second quarter. Hodges Capital Management Inc. now owns 148,745 shares of the financial services provider’s stock worth $3,652,000 after buying an additional 16,295 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Triumph Bancorp during the second quarter worth about $759,000. Finally, Goldman Sachs Group Inc. raised its position in Triumph Bancorp by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 16,391 shares of the financial services provider’s stock worth $423,000 after buying an additional 6,449 shares during the period. Hedge funds and other institutional investors own 51.34% 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 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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