Everence Capital Management Inc. Purchases New Position in Triumph Bancorp, Inc. (NASDAQ:TBK)


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Everence Capital Management Inc. purchased a new stake in Triumph Bancorp, Inc. (NASDAQ:TBK) during the first quarter, HoldingsChannel.com reports. The firm purchased 5,040 shares of the financial services provider’s stock, valued at approximately $390,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vantage Consulting Group Inc acquired a new position in Triumph Bancorp in the 4th quarter valued at about $29,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Triumph Bancorp by 140.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,943 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,718 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Triumph Bancorp during the 4th quarter worth approximately $204,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Triumph Bancorp during the 4th quarter worth approximately $244,000. Finally, ProShare Advisors LLC acquired a new position in shares of Triumph Bancorp during the 4th quarter worth approximately $265,000. Institutional investors and hedge funds own 74.97% of the company’s stock.

TBK stock opened at $95.54 on Tuesday. The company has a fifty day moving average price of $81.14 and a 200-day moving average price of $57.74. The company has a market capitalization of $2.38 billion, a P/E ratio of 49.50 and a beta of 1.17. Triumph Bancorp, Inc. has a 52-week low of $19.50 and a 52-week high of $97.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.06.

Triumph Bancorp (NASDAQ:TBK) last released its quarterly earnings results on Wednesday, January 20th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.43. The firm had revenue of $105.98 million during the quarter, compared to the consensus estimate of $84.57 million. Triumph Bancorp had a net margin of 13.50% and a return on equity of 6.74%. As a group, sell-side analysts forecast that Triumph Bancorp, Inc. will post 1.69 earnings per share for the current fiscal year.

In related news, EVP Todd Ritterbusch purchased 9,000 shares of Triumph Bancorp stock in a transaction on Wednesday, January 27th. The stock was acquired at an average cost of $27.25 per share, for a total transaction of $245,250.00. Following the completion of the acquisition, the executive vice president now owns 20,000 shares of the company’s stock, valued at approximately $545,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Aaron P. Graft sold 27,576 shares of Triumph Bancorp stock in a transaction dated Tuesday, January 26th. The shares were sold at an average price of $62.53, for a total transaction of $1,724,327.28. The disclosure for this sale can be found here. Insiders have sold 37,576 shares of company stock valued at $2,350,627 in the last ninety days. Insiders own 9.53% of the company’s stock.

TBK has been the subject of several research reports. B. Riley raised shares of Triumph Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $110.00 in a research note on Monday, April 5th. Raymond James raised shares of Triumph Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $78.00 to $111.00 in a research note on Monday, April 5th. Wells Fargo & Company increased their price objective on shares of Triumph Bancorp from $42.00 to $73.00 in a research note on Monday, March 8th. Finally, Zacks Investment Research downgraded shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 31st. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $64.13.

Triumph Bancorp Company Profile

Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides various banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through three segments: Banking, Factoring, and Corporate.

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Institutional Ownership by Quarter for Triumph Bancorp (NASDAQ:TBK)

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