Louisiana State Employees Retirement System reduced its holdings in Triumph Bancorp Inc (NASDAQ:TBK) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,950 shares of the financial services provider’s stock after selling 950 shares during the period. Louisiana State Employees Retirement System’s holdings in Triumph Bancorp were worth $302,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Morgan Stanley grew its position in shares of Triumph Bancorp by 699.0% during the 2nd quarter. Morgan Stanley now owns 114,294 shares of the financial services provider’s stock worth $3,321,000 after buying an additional 99,990 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Triumph Bancorp in the 2nd quarter valued at approximately $2,584,000. BlackRock Inc. raised its position in shares of Triumph Bancorp by 2.0% in the 2nd quarter. BlackRock Inc. now owns 3,733,274 shares of the financial services provider’s stock valued at $108,453,000 after acquiring an additional 72,774 shares during the period. Russell Investments Group Ltd. boosted its stake in Triumph Bancorp by 306.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 73,356 shares of the financial services provider’s stock worth $2,339,000 after acquiring an additional 55,286 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Triumph Bancorp during the 2nd quarter worth approximately $1,564,000. 74.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Aaron P. Graft sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $35.68, for a total value of $214,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.54% of the company’s stock.
Several research analysts have weighed in on TBK shares. ValuEngine lowered Triumph Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Stephens restated a “hold” rating and issued a $34.00 price target on shares of Triumph Bancorp in a report on Thursday, October 17th. BidaskClub downgraded Triumph Bancorp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 24th. Zacks Investment Research raised Triumph Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Piper Sandler cut their price objective on Triumph Bancorp from $43.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.00.
Shares of TBK opened at $40.43 on Tuesday. The firm has a market cap of $1.02 billion, a P/E ratio of 17.97, a PEG ratio of 1.45 and a beta of 1.13. Triumph Bancorp Inc has a twelve month low of $27.21 and a twelve month high of $41.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50 day moving average price is $38.42 and its two-hundred day moving average price is $33.39.
Triumph Bancorp (NASDAQ:TBK) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Triumph Bancorp had a net margin of 17.08% and a return on equity of 9.15%. The company had revenue of $75.07 million during the quarter, compared to the consensus estimate of $75.64 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. On average, sell-side analysts anticipate that Triumph Bancorp Inc will post 2.32 earnings per share for the current fiscal year.
Triumph Bancorp Profile
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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