Triumph Bancorp (TBK) Downgraded by Wells Fargo to Market Perform

Triumph Bancorp (NASDAQ:TBK) was downgraded by Wells Fargo from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, MarketBeat Ratings reports. They presently have a $43.00 price target on the financial services provider’s stock. Wells Fargo’s price objective points to a potential upside of 9.14% from the stock’s previous close.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Triumph Bancorp from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research note on Saturday, January 13th. ValuEngine upgraded shares of Triumph Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. BidaskClub upgraded shares of Triumph Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, March 5th. Piper Jaffray reiterated a “hold” rating and set a $35.00 price target on shares of Triumph Bancorp in a research note on Tuesday, January 9th. Finally, B. Riley upgraded shares of Triumph Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $42.00 in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $39.56.

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NASDAQ TBK opened at $39.40 on Thursday. Triumph Bancorp has a 12 month low of $20.50 and a 12 month high of $44.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $868.44, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.41 and a beta of 0.92.

Triumph Bancorp (NASDAQ:TBK) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. Triumph Bancorp had a net margin of 16.62% and a return on equity of 9.38%. The company had revenue of $49.79 million for the quarter, compared to analysts’ expectations of $48.74 million. analysts predict that Triumph Bancorp will post 2.69 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of TBK. MetLife Investment Advisors LLC purchased a new stake in Triumph Bancorp during the fourth quarter worth about $236,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Triumph Bancorp during the third quarter worth approximately $261,000. Citadel Advisors LLC purchased a new stake in shares of Triumph Bancorp during the fourth quarter worth approximately $308,000. American International Group Inc. increased its stake in shares of Triumph Bancorp by 14.7% during the fourth quarter. American International Group Inc. now owns 11,804 shares of the financial services provider’s stock worth $372,000 after buying an additional 1,512 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Triumph Bancorp by 367.6% during the third quarter. Russell Investments Group Ltd. now owns 13,561 shares of the financial services provider’s stock worth $437,000 after buying an additional 10,661 shares during the period. Institutional investors own 62.97% of the company’s stock.

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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.

Analyst Recommendations for Triumph Bancorp (NASDAQ:TBK)

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