Wells Fargo & Company set a $35.00 price target on Triumph Bancorp, Inc. (NASDAQ:TBK) in a research note issued to investors on Friday. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. FBR & Co lowered shares of Triumph Bancorp from an outperform rating to a market perform rating and set a $29.00 price target on the stock. in a research note on Friday, July 21st. DA Davidson reiterated a buy rating and issued a $36.00 price target on shares of Triumph Bancorp in a research note on Friday. Piper Jaffray Companies upgraded shares of Triumph Bancorp from a neutral rating to an overweight rating and set a $32.00 price target on the stock in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of Triumph Bancorp from a hold rating to a buy rating and set a $28.00 price target on the stock in a research note on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and issued a $33.00 price target on shares of Triumph Bancorp in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $34.14.

Triumph Bancorp (NASDAQ:TBK) traded up 2.39% during mid-day trading on Friday, reaching $32.10. 95,041 shares of the company were exchanged. The stock has a 50-day moving average of $30.72 and a 200 day moving average of $26.28. The firm has a market capitalization of $578.73 million, a P/E ratio of 19.28 and a beta of 0.83. Triumph Bancorp has a 1-year low of $18.36 and a 1-year high of $32.60.

Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $43.68 million for the quarter, compared to analyst estimates of $44.66 million. Triumph Bancorp had a net margin of 17.59% and a return on equity of 9.03%. Equities research analysts forecast that Triumph Bancorp will post $1.92 earnings per share for the current year.

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In related news, Director Charles A. Anderson purchased 2,000 shares of the firm’s 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.35% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Triumph Bancorp by 889.6% during the first quarter. Wellington Management Group LLP now owns 1,071,766 shares of the financial services provider’s stock worth $27,652,000 after purchasing an additional 963,465 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Triumph Bancorp by 3.0% during the second quarter. Vanguard Group Inc. now owns 669,265 shares of the financial services provider’s stock worth $16,431,000 after purchasing an additional 19,502 shares during the period. Banc Funds Co. LLC lifted its holdings in shares of Triumph Bancorp by 46.7% during the second 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 period. State Street Corp lifted its holdings in shares of Triumph Bancorp by 7.4% during the second 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 period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Triumph Bancorp by 85.9% during the second 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 period. 46.10% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Triumph Bancorp (NASDAQ:TBK)

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