Short Interest in Triumph Bancorp Inc (TBK) Grows By 65.2%

Triumph Bancorp Inc (NASDAQ:TBK) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 988,645 shares, an increase of 65.2% from the July 31st total of 598,354 shares. Based on an average trading volume of 865,850 shares, the short-interest ratio is presently 1.1 days. Currently, 4.1% of the company’s shares are sold short.

Triumph Bancorp stock opened at $41.60 on Tuesday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 26.50, a PEG ratio of 1.59 and a beta of 0.85. Triumph Bancorp has a 12-month low of $27.25 and a 12-month high of $44.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06.

Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). The firm had revenue of $58.20 million during the quarter, compared to the consensus estimate of $56.86 million. Triumph Bancorp had a net margin of 17.55% and a return on equity of 10.51%. equities analysts predict that Triumph Bancorp will post 2.4 earnings per share for the current fiscal year.

Several research firms recently issued reports on TBK. BidaskClub cut Triumph Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Zacks Investment Research cut Triumph Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Stephens reiterated a “buy” rating and issued a $46.00 price target on shares of Triumph Bancorp in a report on Thursday, July 19th. B. Riley raised their price target on Triumph Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Finally, ValuEngine cut Triumph Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Triumph Bancorp has an average rating of “Hold” and a consensus price target of $42.11.

In related 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 value of $125,880.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Triumph Bancorp by 16.2% during 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 buying an additional 25,440 shares during the last quarter. WINTON GROUP Ltd bought a new position in Triumph Bancorp during the second quarter worth about $821,000. Trafelet Brokaw Capital Management L.P. boosted its holdings in Triumph Bancorp by 23.1% during the second quarter. Trafelet Brokaw Capital Management L.P. now owns 260,761 shares of the financial services provider’s stock worth $10,626,000 after buying an additional 49,000 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in Triumph Bancorp by 50.6% during the second quarter. MetLife Investment Advisors LLC now owns 11,267 shares of the financial services provider’s stock worth $459,000 after buying an additional 3,787 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Triumph Bancorp by 33.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 7,958 shares of the financial services provider’s stock worth $324,000 after buying an additional 1,993 shares during the last quarter. Hedge funds and other institutional investors own 74.82% 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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