Triumph Bancorp (TBK) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Triumph Bancorp (NASDAQ:TBK) from a hold rating to a buy rating in a report released on Friday.

TBK has been the subject of several other research reports. Zacks Investment Research downgraded shares of Triumph Bancorp from a buy rating to a hold rating in a research note on Saturday, September 22nd. Wells Fargo & Co set a $42.00 price objective on shares of Triumph Bancorp and gave the company a hold rating in a research note on Tuesday, October 2nd. Stephens restated a buy rating and issued a $45.00 price objective on shares of Triumph Bancorp in a research note on Monday, October 22nd. B. Riley upped their price objective on shares of Triumph Bancorp from $46.00 to $50.00 and gave the company a buy rating in a research note on Friday, September 21st. Finally, DA Davidson upped their price objective on shares of Triumph Bancorp from $50.00 to $52.00 and gave the company a buy rating in a research note on Thursday, September 20th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $46.00.

NASDAQ TBK opened at $37.02 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.98 and a quick ratio of 0.98. Triumph Bancorp has a 1 year low of $30.15 and a 1 year high of $44.70. The firm has a market capitalization of $972.89 million, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.66 and a beta of 0.93.

Triumph Bancorp (NASDAQ:TBK) last released its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Triumph Bancorp had a net margin of 15.39% and a return on equity of 10.07%. The company had revenue of $67.80 million during the quarter, compared to the consensus estimate of $67.43 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Triumph Bancorp’s revenue for the quarter was up 55.1% on a year-over-year basis. On average, sell-side analysts anticipate that Triumph Bancorp will post 2.23 EPS for the current fiscal year.

In other Triumph Bancorp news, Director Richard Loren Davis bought 1,500 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average price of $35.31 per share, for a total transaction of $52,965.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TBK. Piedmont Investment Advisors Inc. boosted its stake in shares of Triumph Bancorp by 1,234.8% during the third quarter. Piedmont Investment Advisors Inc. now owns 5,566 shares of the financial services provider’s stock worth $213,000 after buying an additional 5,149 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Triumph Bancorp during the third quarter worth about $220,000. LPL Financial LLC boosted its stake in shares of Triumph Bancorp by 27.6% during the third quarter. LPL Financial LLC now owns 6,416 shares of the financial services provider’s stock worth $245,000 after buying an additional 1,387 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Triumph Bancorp during the second quarter worth about $270,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Triumph Bancorp during the third quarter worth about $289,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

About Triumph Bancorp

Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through Banking, Factoring, and Corporate segments. It offers depository products, including checking, savings, and money market accounts, as well as certificates of deposit; and commercial and industrial loans, loans to purchase capital equipment, and business loans for working capital and operational purposes.

Featured Story: Hedge Funds – How They Work For Investors

Analyst Recommendations for Triumph Bancorp (NASDAQ:TBK)

Receive News & Ratings for Triumph Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triumph Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply