Triumph Bancorp (TBK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Triumph Bancorp (NASDAQ:TBK) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $46.00 target price on the financial services provider’s stock.

According to Zacks, “Triumph Bancorp Inc. is a financial holding company with a diversified line of community banking, commercial finance and asset management activities. It serves its local communities through its two wholly owned bank subsidiaries, Triumph Savings Bank, SSB and Triumph Community Bank, N.A. These operations include a full suite of lending and depository products and services focused on meeting the needs of its customers in its community banking markets. It serves a broad national customer base through its commercial finance brands, which include discount factoring through Triumph Business Capital, equipment lending and general asset based lending through Triumph Commercial Finance, healthcare asset based lending through Triumph Healthcare Finance, commercial insurance through Triumph Insurance Group, institutional asset management services through Triumph Capital Advisors. Triumph Bancorp Inc. is headquartered in Dallas, Texas. “

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Several other research firms have also recently weighed in on TBK. B. Riley raised their price objective on shares of Triumph Bancorp from $42.00 to $46.00 and gave the company a buy rating in a research report on Tuesday, June 19th. Piper Jaffray Companies restated a buy rating and issued a $49.00 price objective on shares of Triumph Bancorp in a research report on Thursday, March 15th. Wells Fargo & Co cut shares of Triumph Bancorp from an outperform rating to a market perform rating and set a $43.00 price objective for the company. in a research report on Thursday, April 5th. ValuEngine upgraded shares of Triumph Bancorp from a hold rating to a buy rating in a research report on Thursday, April 26th. Finally, BidaskClub cut shares of Triumph Bancorp from a buy rating to a hold rating in a research report on Monday, May 14th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $40.78.

Shares of Triumph Bancorp opened at $41.75 on Tuesday, MarketBeat Ratings reports. Triumph Bancorp has a 12-month low of $24.40 and a 12-month high of $44.05. The stock has a market cap of $1.09 billion, a P/E ratio of 20.29, a PEG ratio of 1.56 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings results on Wednesday, April 18th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.06). The firm had revenue of $52.30 million for the quarter, compared to the consensus estimate of $52.34 million. Triumph Bancorp had a net margin of 17.71% and a return on equity of 11.67%. equities research analysts expect that Triumph Bancorp will post 2.41 EPS for the current fiscal year.

In other Triumph Bancorp news, Director Michael P. Rafferty purchased 750 shares of the stock in a transaction dated Monday, May 14th. The stock was bought at an average price of $39.70 per share, for a total transaction of $29,775.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Aaron P. Graft sold 135,000 shares of Triumph Bancorp stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $39.50, for a total transaction of $5,332,500.00. The disclosure for this sale can be found here. 9.40% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Barclays PLC grew its holdings in Triumph Bancorp by 132.4% during the first quarter. Barclays PLC now owns 6,459 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 3,680 shares during the period. A.R.T. Advisors LLC acquired a new position in Triumph Bancorp during the first quarter valued at approximately $431,000. UBS Group AG grew its holdings in Triumph Bancorp by 466.6% during the first quarter. UBS Group AG now owns 28,580 shares of the financial services provider’s stock valued at $1,178,000 after purchasing an additional 23,536 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Triumph Bancorp during the first quarter valued at approximately $118,000. Finally, Pacific Ridge Capital Partners LLC grew its holdings in Triumph Bancorp by 33.4% during the first quarter. Pacific Ridge Capital Partners LLC now owns 33,680 shares of the financial services provider’s stock valued at $1,388,000 after purchasing an additional 8,440 shares during the period. Institutional investors own 49.19% 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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