Triumph Bancorp (NASDAQ:TBK) Lifted to “Strong-Buy” at Raymond James


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Raymond James upgraded shares of Triumph Bancorp (NASDAQ:TBK) from an outperform rating to a strong-buy rating in a report published on Monday, PriceTargets.com reports. The firm currently has $111.00 target price on the financial services provider’s stock, up from their previous target price of $78.00.

Several other brokerages have also recently issued reports on TBK. Zacks Investment Research cut shares of Triumph Bancorp from a buy rating to a hold rating in a research note on Wednesday, March 31st. B. Riley boosted their price objective on shares of Triumph Bancorp from $48.00 to $85.00 and gave the company a neutral rating in a research note on Thursday, March 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Triumph Bancorp from $42.00 to $73.00 in a research note on Monday, March 8th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $64.13.

TBK stock opened at $90.12 on Monday. The company has a fifty day moving average price of $78.97 and a 200 day moving average price of $56.13. Triumph Bancorp has a 12 month low of $19.50 and a 12 month high of $96.74. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 46.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.06 and a quick 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 EPS for the quarter, beating the consensus estimate of $0.82 by $0.43. Triumph Bancorp had a net margin of 13.50% and a return on equity of 6.74%. The firm had revenue of $105.98 million during the quarter, compared to the consensus estimate of $84.57 million. As a group, analysts anticipate that Triumph Bancorp will post 1.69 earnings per share for the current year.

In other Triumph Bancorp news, CEO Aaron P. Graft sold 27,576 shares of the company’s stock in a transaction dated Tuesday, January 26th. The shares were sold at an average price of $62.53, for a total value of $1,724,327.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO R Bryce Fowler sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 26th. The shares were sold at an average price of $63.14, for a total transaction of $252,560.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,576 shares of company stock worth $2,350,627. 9.53% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in TBK. Comerica Bank lifted its holdings in shares of Triumph Bancorp by 1.2% during the 4th quarter. Comerica Bank now owns 23,793 shares of the financial services provider’s stock worth $1,420,000 after acquiring an additional 289 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Triumph Bancorp by 2.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,695 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 294 shares during the period. Public Sector Pension Investment Board raised its holdings in Triumph Bancorp by 0.8% in the fourth quarter. Public Sector Pension Investment Board now owns 50,028 shares of the financial services provider’s stock valued at $2,429,000 after buying an additional 380 shares during the period. Vantage Consulting Group Inc purchased a new position in Triumph Bancorp in the fourth quarter valued at approximately $29,000. Finally, Aperio Group LLC raised its holdings in Triumph Bancorp by 9.7% in the fourth quarter. Aperio Group LLC now owns 7,331 shares of the financial services provider’s stock valued at $356,000 after buying an additional 647 shares during the period. Institutional investors own 74.97% of the company’s stock.

About Triumph Bancorp

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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Analyst Recommendations for Triumph Bancorp (NASDAQ:TBK)

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