Piper Jaffray Companies reissued their hold rating on shares of Triumph Bancorp (NASDAQ:TBK) in a report published on Tuesday morning. They currently have a $35.00 target price on the financial services provider’s stock.
Several other equities research analysts also recently commented on TBK. BidaskClub downgraded shares of Triumph Bancorp from a buy rating to a hold rating in a research report on Thursday, October 19th. FBR & Co reissued a neutral rating and set a $32.00 target price (up from $29.00) on shares of Triumph Bancorp in a research report on Tuesday, October 10th. Zacks Investment Research raised shares of Triumph Bancorp from a hold rating to a buy rating and set a $35.00 target price for the company in a research report on Thursday, September 28th. DA Davidson reissued a buy rating and set a $36.00 target price on shares of Triumph Bancorp in a research report on Friday, October 20th. Finally, Keefe, Bruyette & Woods set a $38.00 price target on shares of Triumph Bancorp and gave the stock a buy rating in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $35.00.
Triumph Bancorp (TBK) traded up $1.50 during trading hours on Tuesday, hitting $35.85. 131,700 shares of the stock traded hands, compared to its average volume of 113,762. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $746.43, a P/E ratio of 19.27, a PEG ratio of 1.38 and a beta of 0.81. Triumph Bancorp has a one year low of $20.50 and a one year high of $35.85.
In other news, Director Maribess L. Miller purchased 5,504 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $29.77 per share, for a total transaction of $163,854.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 6,504 shares of company stock worth $195,094. 12.35% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP purchased a new position in Triumph Bancorp in the third quarter valued at about $821,000. Public Employees Retirement System of Ohio purchased a new position in Triumph Bancorp in the third quarter valued at about $575,000. Cubist Systematic Strategies LLC purchased a new position in Triumph Bancorp in the third quarter valued at about $261,000. Allianz Asset Management GmbH boosted its stake in Triumph Bancorp by 21.5% in the third quarter. Allianz Asset Management GmbH now owns 44,459 shares of the financial services provider’s stock valued at $1,434,000 after acquiring an additional 7,866 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Triumph Bancorp by 16,312.2% in the third quarter. Envestnet Asset Management Inc. now owns 16,084 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 15,986 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.
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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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