Triumph Bancorp (NASDAQ:TBK)‘s stock had its “hold” rating restated by equities researchers at Stephens in a report issued on Friday, AnalystRatings.com reports. They presently have a $32.00 price target on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 5.51% from the stock’s previous close.
The analysts wrote, “We had been bracing for incrementally worse trends at TBK given the recent results in the transportation industry that the Bank has exposure to. Management is signaling it is shifting its strategic focus from growth to profitability and we believe this could ultimately improve the long-term NIM, ROA and ROTCE of the franchise. We are increasing our 2020 EPS forecast (from $2.52 to $2.67) but remain below Street consensus as we believe the consensus EPS ramp implies a more favorable macro-environment in the transportation industry that has yet to emerge. Our revised price target of $32 (was $30) is based on 12x our 2020 EPS forecast. Our rating is Equal-Weight.””
A number of other research firms have also commented on TBK. Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Saturday, July 13th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. B. Riley set a $33.00 price objective on shares of Triumph Bancorp and gave the stock a “buy” rating in a report on Monday, April 22nd. Piper Jaffray Companies set a $15.00 price objective on shares of BioCryst Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, BidaskClub upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Triumph Bancorp currently has an average rating of “Hold” and an average target price of $41.60.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Triumph Bancorp had a net margin of 16.79% and a return on equity of 9.36%. The company had revenue of $71.04 million during the quarter, compared to analyst estimates of $70.02 million. During the same period in the prior year, the business posted $0.50 EPS. Research analysts predict that Triumph Bancorp will post 2.3 EPS for the current fiscal year.
In other Triumph Bancorp news, Director Carlos M. Sepulveda bought 3,500 shares of Triumph Bancorp stock in a transaction dated Thursday, June 6th. The shares were purchased at an average cost of $27.71 per share, with a total value of $96,985.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael P. Rafferty bought 1,500 shares of Triumph Bancorp stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $29.25 per share, for a total transaction of $43,875.00. The disclosure for this purchase can be found here. Insiders acquired a total of 9,228 shares of company stock valued at $270,043 over the last 90 days. Company insiders own 8.54% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC grew its position in shares of Triumph Bancorp by 5.1% in the 1st quarter. Mason Street Advisors LLC now owns 7,889 shares of the financial services provider’s stock worth $232,000 after buying an additional 381 shares during the period. Advisor Group Inc. grew its position in shares of Triumph Bancorp by 84.0% in the 4th quarter. Advisor Group Inc. now owns 918 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Triumph Bancorp by 47.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,308 shares of the financial services provider’s stock worth $38,000 after buying an additional 421 shares during the period. Bank of Montreal Can grew its position in shares of Triumph Bancorp by 49.3% in the 1st quarter. Bank of Montreal Can now owns 1,372 shares of the financial services provider’s stock worth $40,000 after buying an additional 453 shares during the period. Finally, Raymond James & Associates grew its position in shares of Triumph Bancorp by 4.8% in the 4th quarter. Raymond James & Associates now owns 10,239 shares of the financial services provider’s stock worth $304,000 after buying an additional 472 shares during the period. 78.59% of the stock is currently owned by hedge funds and other institutional investors.
Triumph Bancorp Company Profile
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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