Triumph Bancorp, Inc. (TBK) Stock Rating Lowered by Piper Jaffray Companies
Triumph Bancorp, Inc. (NASDAQ:TBK) was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday. They presently have a $34.00 target price on the financial services provider’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 7.59% from the company’s current price.
Several other equities research analysts also recently issued reports on the company. BidaskClub raised Triumph Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Zacks Investment Research raised Triumph Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, September 28th. Stephens reissued an “overweight” rating and issued a $34.00 price objective on shares of Triumph Bancorp in a research note on Monday, August 21st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $33.00 price objective on shares of Triumph Bancorp in a research note on Wednesday, August 9th. Finally, FBR & Co downgraded Triumph Bancorp from an “outperform” rating to a “market perform” rating and set a $29.00 price objective for the company. in a research note on Friday, July 21st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $31.86.
Shares of Triumph Bancorp (NASDAQ:TBK) opened at 31.60 on Friday. Triumph Bancorp has a 52-week low of $18.36 and a 52-week high of $32.60. The company’s 50-day moving average price is $29.54 and its 200-day moving average price is $25.83. The stock has a market cap of $569.72 million, a PE ratio of 18.98 and a beta of 0.83.
Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.19. The firm had revenue of $43.76 million during the quarter, compared to the consensus estimate of $39.38 million. Triumph Bancorp had a return on equity of 7.85% and a net margin of 15.93%. Analysts expect that Triumph Bancorp will post $1.92 earnings per share for the current year.
In other Triumph Bancorp news, Director Charles A. Anderson acquired 2,000 shares of Triumph Bancorp stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $27.66 per share, with a total value of $55,320.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.35% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. acquired a new position in Triumph Bancorp in the 2nd quarter worth about $495,000. The Manufacturers Life Insurance Company increased its position in Triumph Bancorp by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,336 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 428 shares during the last quarter. State Street Corp increased its position in Triumph Bancorp by 7.4% in the 2nd quarter. State Street Corp now owns 262,930 shares of the financial services provider’s stock worth $6,452,000 after purchasing an additional 18,159 shares during the last quarter. Banc Funds Co. LLC increased its position in Triumph Bancorp by 46.7% in the 2nd quarter. Banc Funds Co. LLC now owns 298,300 shares of the financial services provider’s stock worth $7,323,000 after purchasing an additional 95,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Triumph Bancorp by 85.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 210,010 shares of the financial services provider’s stock worth $5,156,000 after purchasing an additional 97,051 shares during the last quarter. 46.10% of the stock is currently owned by institutional investors.
About Triumph Bancorp
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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