Triumph Bancorp Inc (NASDAQ:TBK) Sees Significant Drop in Short Interest

Triumph Bancorp Inc (NASDAQ:TBK) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,360,000 shares, a decrease of 13.9% from the December 15th total of 1,580,000 shares. Currently, 5.9% of the company’s stock are sold short. Based on an average trading volume of 137,600 shares, the short-interest ratio is currently 9.9 days.

A number of analysts recently issued reports on TBK shares. BidaskClub lowered Triumph Bancorp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 24th. ValuEngine cut shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Zacks Investment Research raised shares of Triumph Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Stephens reaffirmed a “hold” rating and set a $34.00 price objective on shares of Triumph Bancorp in a research report on Thursday, October 17th. Finally, B. Riley lifted their price objective on shares of Triumph Bancorp from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, January 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.00.

Shares of TBK stock traded down $0.14 during midday trading on Wednesday, reaching $38.05. 1,806 shares of the company traded hands, compared to its average volume of 95,922. The firm’s 50 day simple moving average is $37.65 and its two-hundred day simple moving average is $32.72. The firm has a market cap of $952.94 million, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.00 and a quick ratio of 1.00. Triumph Bancorp has a 1-year low of $27.21 and a 1-year high of $39.00.

Triumph Bancorp (NASDAQ:TBK) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $72.51 million during the quarter, compared to the consensus estimate of $74.07 million. Triumph Bancorp had a return on equity of 9.36% and a net margin of 17.86%. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, research analysts anticipate that Triumph Bancorp will post 2.19 earnings per share for the current fiscal year.

In related news, CEO Aaron P. Graft sold 6,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $35.68, for a total transaction of $214,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael P. Rafferty bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $32.60 per share, for a total transaction of $48,900.00. The disclosure for this purchase can be found here. 8.54% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of Triumph Bancorp by 94.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 647,036 shares of the financial services provider’s stock valued at $18,797,000 after purchasing an additional 313,783 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Triumph Bancorp by 699.0% in the 2nd quarter. Morgan Stanley now owns 114,294 shares of the financial services provider’s stock worth $3,321,000 after acquiring an additional 99,990 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Triumph Bancorp in the 2nd quarter worth approximately $2,584,000. BlackRock Inc. boosted its position in shares of Triumph Bancorp by 2.0% during the 2nd quarter. BlackRock Inc. now owns 3,733,274 shares of the financial services provider’s stock worth $108,453,000 after purchasing an additional 72,774 shares during the period. Finally, Citadel Advisors LLC increased its holdings in Triumph Bancorp by 163.3% in the 2nd quarter. Citadel Advisors LLC now owns 102,063 shares of the financial services provider’s stock valued at $2,965,000 after purchasing an additional 63,296 shares during the last quarter. 74.14% of the stock is owned by hedge funds and other institutional investors.

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.

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