Lord Abbett & CO. LLC Trims Stake in Triumph Bancorp, Inc. (NASDAQ:TBK)

Lord Abbett & CO. LLC reduced its holdings in shares of Triumph Bancorp, Inc. (NASDAQ:TBK) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,918 shares of the financial services provider’s stock after selling 5,100 shares during the period. Lord Abbett & CO. LLC’s holdings in Triumph Bancorp were worth $17,815,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its holdings in Triumph Bancorp by 2.5% during the third quarter. BlackRock Inc. now owns 3,475,674 shares of the financial services provider’s stock valued at $348,020,000 after buying an additional 86,359 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Triumph Bancorp by 3.7% during the third quarter. Principal Financial Group Inc. now owns 199,589 shares of the financial services provider’s stock valued at $19,985,000 after buying an additional 7,073 shares during the last quarter. Raymond James & Associates purchased a new stake in shares of Triumph Bancorp in the third quarter worth $498,000. SG Americas Securities LLC purchased a new stake in shares of Triumph Bancorp in the third quarter worth $3,252,000. Finally, Howard Financial Services LTD. purchased a new stake in shares of Triumph Bancorp in the third quarter worth $300,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Triumph Bancorp stock opened at $119.89 on Friday. The firm has a 50-day moving average price of $123.45 and a 200-day moving average price of $100.86. The firm has a market capitalization of $3.01 billion, a PE ratio of 26.12 and a beta of 0.89. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. Triumph Bancorp, Inc. has a 12-month low of $55.31 and a 12-month high of $136.01.

Triumph Bancorp (NASDAQ:TBK) last released its earnings results on Tuesday, October 19th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.14). The firm had revenue of $103.83 million during the quarter, compared to the consensus estimate of $107.66 million. Triumph Bancorp had a return on equity of 16.52% and a net margin of 27.40%. During the same quarter last year, the business posted $0.91 EPS. As a group, sell-side analysts predict that Triumph Bancorp, Inc. will post 4.43 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on TBK shares. Raymond James increased their price objective on shares of Triumph Bancorp from $112.00 to $148.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 22nd. Zacks Investment Research cut shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 7th. B. Riley increased their price objective on shares of Triumph Bancorp from $153.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, December 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Triumph Bancorp from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 7th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $126.61.

In related news, Director Carlos M. Sepulveda sold 14,974 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $131.24, for a total value of $1,965,187.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Aaron P. Graft sold 16,434 shares of the firm’s stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $113.18, for a total transaction of $1,860,000.12. The disclosure for this sale can be found here. Insiders sold a total of 40,898 shares of company stock valued at $4,954,249 in the last 90 days. Company insiders own 6.23% of the company’s stock.

About Triumph Bancorp

Triumph Bancorp, Inc operates as a financial holding company which offers traditional banking and financial solutions. It operates through the following segments: Factoring, Banking and Corporate. The Factoring segment includes the operations of Triumph Business Capital which offers factoring services.

See Also: Rule of 72

Want to see what other hedge funds are holding TBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triumph Bancorp, Inc. (NASDAQ:TBK).

Institutional Ownership by Quarter 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.