RMB Capital Management LLC increased its stake in shares of Triumph Bancorp, Inc. (NASDAQ:TBK) by 24.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 506,437 shares of the financial services provider’s stock after buying an additional 100,233 shares during the period. RMB Capital Management LLC owned about 2.82% of Triumph Bancorp worth $13,066,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in TBK. Dimensional Fund Advisors LP purchased a new position in shares of Triumph Bancorp during the fourth quarter valued at approximately $920,000. State Street Corp raised its position in shares of Triumph Bancorp by 3.2% in the fourth quarter. State Street Corp now owns 232,947 shares of the financial services provider’s stock valued at $6,091,000 after buying an additional 7,148 shares in the last quarter. Waratah Capital Advisors Ltd. purchased a new position in shares of Triumph Bancorp during the first quarter valued at approximately $994,000. Two Sigma Investments LP raised its position in Triumph Bancorp by 66.4% in the fourth quarter. Two Sigma Investments LP now owns 18,518 shares of the financial services provider’s stock valued at $484,000 after buying an additional 7,389 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management raised its position in Triumph Bancorp by 41.3% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 13,645 shares of the financial services provider’s stock valued at $352,000 after buying an additional 3,985 shares in the last quarter. Institutional investors and hedge funds own 51.51% of the company’s stock.
Triumph Bancorp, Inc. (NASDAQ TBK) remained flat at $23.65 during midday trading on Monday. The stock had a trading volume of 96,311 shares. The company’s 50-day moving average price is $22.52 and its 200-day moving average price is $24.71. The firm has a market capitalization of $424.87 million, a P/E ratio of 16.98 and a beta of 0.73. Triumph Bancorp, Inc. has a 12-month low of $15.44 and a 12-month high of $27.95.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.34. The company had revenue of $59.10 million for the quarter, compared to analysts’ expectations of $39.48 million. Triumph Bancorp had a net margin of 14.60% and a return on equity of 6.26%. On average, analysts predict that Triumph Bancorp, Inc. will post $1.61 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on the company. TheStreet lowered Triumph Bancorp from a “b-” rating to a “c” rating in a research report on Wednesday, February 22nd. Zacks Investment Research lowered Triumph Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. DA Davidson initiated coverage on Triumph Bancorp in a research report on Tuesday, March 21st. They issued a “buy” rating and a $31.00 price target for the company. FBR & Co reiterated an “outperform” rating and issued a $30.00 price objective on shares of Triumph Bancorp in a report on Friday, March 24th. Finally, Piper Jaffray Companies downgraded Triumph Bancorp from an “overweight” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $26.60.
In related news, Director Maribess L. Miller acquired 4,546 shares of Triumph Bancorp stock in a transaction on Monday, April 24th. The stock was purchased at an average cost of $21.99 per share, with a total value of $99,966.54. Following the purchase, the director now directly owns 12,903 shares in the company, valued at $283,736.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Rafferty bought 1,500 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were acquired at an average cost of $21.98 per share, with a total value of $32,970.00. Following the completion of the purchase, the director now owns 22,187 shares in the company, valued at approximately $487,670.26. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,651 shares of company stock valued at $258,011. 12.35% of the stock is owned by company insiders.
About Triumph Bancorp
Triumph Bancorp, Inc is a financial holding company. Through its bank subsidiary, TBK Bank, SSB (TBK Bank), the Company offers traditional banking services, as well as commercial finance products. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate. The Factoring segment includes the operations of Triumph Business Capital with revenue derived from factoring services.
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