Triumph Bancorp (NASDAQ:TBK) PT Raised to $52.00
Triumph Bancorp (NASDAQ:TBK) had its price objective hoisted by research analysts at DA Davidson from $50.00 to $52.00 in a report released on Thursday, September 20th, The Fly reports. The firm presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 47.39% from the stock’s previous close. DA Davidson also issued estimates for Triumph Bancorp’s Q1 2019 earnings at $0.74 EPS, Q2 2019 earnings at $0.81 EPS, Q3 2019 earnings at $0.88 EPS and Q4 2019 earnings at $0.93 EPS.
Several other analysts also recently commented on TBK. Stephens reiterated a “buy” rating and set a $46.00 target price on shares of Triumph Bancorp in a research note on Thursday, July 19th. BidaskClub downgraded Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 13th. Zacks Investment Research upgraded Triumph Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, July 3rd. ValuEngine downgraded Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Finally, B. Riley raised their target price on Triumph Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Triumph Bancorp presently has a consensus rating of “Hold” and a consensus price target of $44.56.
Shares of Triumph Bancorp stock traded down $0.91 during midday trading on Thursday, hitting $35.28. The company had a trading volume of 279,815 shares, compared to its average volume of 224,206. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.00 billion, a P/E ratio of 22.47, a PEG ratio of 1.51 and a beta of 0.91. Triumph Bancorp has a 52-week low of $28.45 and a 52-week high of $44.70.
In other news, EVP Daniel J. Karas sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $41.96, for a total transaction of $125,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.40% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in Triumph Bancorp in the third quarter worth about $289,000. United Services Automobile Association grew its position in Triumph Bancorp by 31.7% in the second quarter. United Services Automobile Association now owns 7,224 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 1,740 shares in the last quarter. Northern Trust Corp grew its position in Triumph Bancorp by 45.0% in the second quarter. Northern Trust Corp now owns 285,499 shares of the financial services provider’s stock worth $11,634,000 after acquiring an additional 88,619 shares in the last quarter. Moody Aldrich Partners LLC grew its position in Triumph Bancorp by 114.3% in the second quarter. Moody Aldrich Partners LLC now owns 136,690 shares of the financial services provider’s stock worth $5,570,000 after acquiring an additional 72,913 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Triumph Bancorp by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 182,396 shares of the financial services provider’s stock worth $7,433,000 after acquiring an additional 25,440 shares in the last quarter. Hedge funds and other institutional investors own 74.81% 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.
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