Triumph Bancorp (NASDAQ: TBK) sets new one-year high after analysts upgrade
Shares of Triumph Bancorp, Inc. (NASDAQ: TBK) hit a new 52-week high at midday Thursday after B. Riley raised his share price target from $ 110.00 to 125, $ 00. B. Riley currently has a buy rating on the stock. Triumph Bancorp traded at $ 99.73 and last traded at $ 98.22, with volume of 190 shares. The stock previously closed at $ 98.25.
Several other equity analysts also commented on the company. Zacks Investment Research downgraded Triumph Bancorp from a “buy” rating to a “conservation” rating in a research note on Friday, July 2. Raymond James reiterated a “buy” note and issued a target price of $ 112.00 (vs. $ 116.00) on shares of Triumph Bancorp in a research note on Monday, July 26. Finally, Stephens reissued an “equal weight” rating and set a price target of $ 75.07 (up from $ 78.00 previously) for shares of Triumph Bancorp in a research report published on Tuesday, July 27. Five investment analysts rated the stock with a conservation rating and two issued a buy rating for the company’s stock. According to MarketBeat data, Triumph Bancorp currently has a consensus rating of “Hold” and a consensus price target of $ 78.01.
In other Triumph Bancorp news, director C Todd Sparks sold 6,067 shares in a trade on Friday, September 24. The stock was sold at an average price of $ 89.19, for a total trade of $ 541,115.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this hyperlink. Insiders have sold a total of 47,733 shares of the company valued at $ 4,249,340 in the past three months. Company insiders own 6.23% of the company’s shares.
Large investors have recently changed their positions in the stock. Goldman Sachs Group Inc. increased its holdings in Triumph Bancorp by 94.1% in the first quarter. Goldman Sachs Group Inc. now owns 95,653 shares of the financial services provider valued at $ 7,403,000 after purchasing an additional 46,366 shares last quarter. Monarch Partners Asset Management LLC purchased a new position in Triumph Bancorp during the first quarter valued at approximately $ 2,028,000. Ensign Peak Advisors Inc increased its holdings in Triumph Bancorp by 16.8% in the first quarter. Ensign Peak Advisors Inc now owns 15,300 shares of the financial services provider valued at $ 1,184,000 after purchasing an additional 2,200 shares last quarter. The New York State Common Retirement Fund increased its holdings in Triumph Bancorp by 0.6% in the second quarter. The New York State Pooled Retirement Fund now owns 32,636 shares of the financial services provider valued at $ 2,423,000 after buying 186 more shares in the last quarter. Finally, the Alaska State Department of Revenue increased its position in Triumph Bancorp shares by 2.3% in the second quarter. The Alaska State Department of Revenue now owns 15,665 shares of the financial services provider valued at $ 1,163,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds hold 79.50% of the company’s shares.
The company has a market cap of $ 2.47 billion, a price-to-earnings ratio of 21.64, and a beta of 1.07. The company has a 50-day moving average price of $ 81.67 and a 200-day moving average price of $ 82.05. The company has a quick ratio of 1.06, a current ratio of 1.06, and a debt ratio of 0.24.
Triumph Bancorp (NASDAQ: TBK) last released its results on Tuesday, July 20. The financial services provider reported earnings per share of $ 1.08 for the quarter, beating analyst consensus estimates of $ 1.02 by $ 0.06. Triumph Bancorp recorded a return on equity of 17.14% and a net margin of 28.08%. The company posted revenue of $ 104.18 million for the quarter, compared to the consensus estimate of $ 98.65 million. Stock analysts expect Triumph Bancorp, Inc. to post EPS of 4.63 for the current fiscal year.
Triumph Bancorp Company Profile (NASDAQ: TBK)
Triumph Bancorp, Inc. operates as a financial holding company providing traditional banking and financial solutions. It operates through the following segments: Factoring, Banking and Corporates. The Factoring segment comprises the activities of Triumph Business Capital which offers factoring services.
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