Triumph Bancorp Inc. (NASDAQ:TBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm presently has a $22.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 11.00% from the stock’s previous close.
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. “
Shares of Triumph Bancorp (NASDAQ:TBK) opened at 19.82 on Friday. The company has a market cap of $358.88 million, a price-to-earnings ratio of 18.49 and a beta of 0.50. Triumph Bancorp has a 52 week low of $12.63 and a 52 week 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 for the quarter, meeting 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 expect that Triumph Bancorp will post $1.22 earnings per share for the current fiscal year.
In other news, Director Michael P. Rafferty purchased 1,593 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average price of $17.15 per share, with a total value of $27,319.95. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 9.84% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Mendon Capital Advisors Corp boosted its stake in shares of Triumph Bancorp by 10.5% in the second quarter. Mendon Capital Advisors Corp now owns 903,284 shares of the company’s stock valued at $14,452,000 after buying an additional 85,760 shares during the last quarter. Basswood Capital Management L.L.C. boosted its stake in shares of Triumph Bancorp by 10.2% in the second quarter. Basswood Capital Management L.L.C. now owns 830,997 shares of the company’s stock valued at $13,296,000 after buying an additional 77,176 shares during the last quarter. NFC Investments LLC boosted its stake in shares of Triumph Bancorp by 30.3% in the second quarter. NFC Investments LLC now owns 650,373 shares of the company’s stock valued at $10,406,000 after buying an additional 151,120 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Triumph Bancorp by 3.7% in the second quarter. Vanguard Group Inc. now owns 514,072 shares of the company’s stock valued at $8,225,000 after buying an additional 18,535 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Triumph Bancorp by 79.4% in the second quarter. Loomis Sayles & Co. L P now owns 484,866 shares of the company’s stock valued at $7,758,000 after buying an additional 214,637 shares during the last quarter. 39.53% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Triumph Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triumph Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.