Triumph Bancorp (TBK) Upgraded by Zacks Investment Research to “Hold”

Triumph Bancorp (NASDAQ:TBK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Triumph Bancorp Inc. is a financial holding company with a diversified line of community banking, commercial finance and asset management activities. It serves its local communities through its two wholly owned bank subsidiaries, Triumph Savings Bank, SSB and Triumph Community Bank, N.A. These operations include a full suite of lending and depository products and services focused on meeting the needs of its customers in its community banking markets. It serves a broad national customer base through its commercial finance brands, which include discount factoring through Triumph Business Capital, equipment lending and general asset based lending through Triumph Commercial Finance, healthcare asset based lending through Triumph Healthcare Finance, commercial insurance through Triumph Insurance Group, institutional asset management services through Triumph Capital Advisors. Triumph Bancorp Inc. is headquartered in Dallas, Texas. “

TBK has been the subject of a number of other reports. BidaskClub lowered Triumph Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Wells Fargo & Co set a $42.00 price objective on Triumph Bancorp and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Stephens reissued a “buy” rating and set a $45.00 price objective on shares of Triumph Bancorp in a report on Monday, October 22nd. ValuEngine lowered Triumph Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 13th. Finally, B. Riley boosted their price objective on Triumph Bancorp from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, September 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Triumph Bancorp has a consensus rating of “Hold” and a consensus target price of $46.43.

TBK traded down $0.12 during midday trading on Friday, reaching $30.63. 240,873 shares of the company were exchanged, compared to its average volume of 183,337. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $816.78 million, a P/E ratio of 19.51, a P/E/G ratio of 0.98 and a beta of 1.23. Triumph Bancorp has a one year low of $27.47 and a one year high of $44.70.

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

In related news, CEO Aaron P. Graft sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $37.84, for a total value of $378,400.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard Loren Davis acquired 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average price of $35.31 per share, for a total transaction of $52,965.00. The disclosure for this purchase can be found here. 9.40% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Triumph Bancorp by 111.0% during the third quarter. BlackRock Inc. now owns 3,505,351 shares of the financial services provider’s stock worth $133,903,000 after acquiring an additional 1,844,032 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Triumph Bancorp by 28.4% during the third quarter. Vanguard Group Inc. now owns 1,391,825 shares of the financial services provider’s stock worth $53,167,000 after acquiring an additional 307,629 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Triumph Bancorp by 28.4% during the third quarter. Vanguard Group Inc now owns 1,391,825 shares of the financial services provider’s stock worth $53,167,000 after acquiring an additional 307,629 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Triumph Bancorp by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 838,605 shares of the financial services provider’s stock worth $32,035,000 after acquiring an additional 54,041 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Triumph Bancorp by 41.5% during the third quarter. Brown Advisory Inc. now owns 493,688 shares of the financial services provider’s stock worth $18,860,000 after acquiring an additional 144,727 shares in the last quarter. Institutional investors and hedge funds own 84.17% 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.

Further Reading: Diversification

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