Triumph Bancorp (TBK) Given Hold Rating at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their hold rating on shares of Triumph Bancorp (NASDAQ:TBK) in a report published on Tuesday morning. Piper Jaffray Companies currently has a $35.00 target price on the financial services provider’s stock.
TBK has been the subject of a number of other reports. BidaskClub downgraded Triumph Bancorp from a hold rating to a sell rating in a report on Tuesday, November 7th. Wells Fargo & Co set a $35.00 price target on Triumph Bancorp and gave the stock a buy rating in a report on Friday, October 20th. Zacks Investment Research downgraded Triumph Bancorp from a strong-buy rating to a hold rating in a report on Wednesday, September 20th. DA Davidson reiterated a buy rating and set a $36.00 price target on shares of Triumph Bancorp in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $37.00 price target on shares of Triumph Bancorp in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $35.00.
Shares of Triumph Bancorp (NASDAQ:TBK) traded up $0.75 during trading on Tuesday, reaching $34.35. The company’s stock had a trading volume of 167,192 shares, compared to its average volume of 111,200. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.01 and a current ratio of 1.01. Triumph Bancorp has a 52-week low of $20.50 and a 52-week high of $35.45. The firm has a market cap of $688.13, a P/E ratio of 18.47, a P/E/G ratio of 1.38 and a beta of 0.81.
In other news, Director Maribess L. Miller bought 5,504 shares of Triumph Bancorp stock in a transaction dated Wednesday, November 15th. The stock was bought at an average cost of $29.77 per share, for a total transaction of $163,854.08. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 6,504 shares of company stock valued at $195,094. 12.35% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of TBK. Bank of New York Mellon Corp grew its stake in shares of Triumph Bancorp by 10.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 83,915 shares of the financial services provider’s stock valued at $2,060,000 after buying an additional 8,118 shares during the period. Prudential Financial Inc. bought a new position in Triumph Bancorp in the 2nd quarter valued at about $784,000. Principal Financial Group Inc. bought a new position in Triumph Bancorp in the 2nd quarter valued at about $218,000. LSV Asset Management bought a new position in Triumph Bancorp in the 2nd quarter valued at about $2,267,000. Finally, Kennedy Capital Management Inc. bought a new position in Triumph Bancorp in the 2nd quarter valued at about $3,102,000. Institutional investors own 61.32% 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 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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