Triumph Bancorp Inc (NASDAQ:TBK) Receives $34.50 Consensus Price Target from Brokerages

Triumph Bancorp Inc (NASDAQ:TBK) has received a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $34.50.

A number of research firms have recently issued reports on TBK. Zacks Investment Research upgraded shares of Triumph Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 9th. ValuEngine upgraded shares of Triumph Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BidaskClub upgraded shares of Triumph Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Stephens reiterated a “hold” rating and issued a $34.00 target price on shares of Triumph Bancorp in a research note on Thursday, October 17th. Finally, B. Riley lifted their target price on shares of Triumph Bancorp from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, October 18th.

In other news, Director Michael P. Rafferty bought 1,500 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $32.60 per share, for a total transaction of $48,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aaron P. Graft sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $32.51, for a total transaction of $113,785.00. The disclosure for this sale can be found here. Insiders own 8.54% of the company’s stock.

A number of hedge funds have recently bought and sold shares of TBK. Mesirow Financial Investment Management Inc. raised its position in Triumph Bancorp by 12.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 23,572 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 2,541 shares during the last quarter. NEXT Financial Group Inc raised its position in Triumph Bancorp by 3,023.7% in the 2nd quarter. NEXT Financial Group Inc now owns 1,843 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,784 shares during the last quarter. Moody Aldrich Partners LLC raised its position in Triumph Bancorp by 2.7% in the 2nd quarter. Moody Aldrich Partners LLC now owns 182,734 shares of the financial services provider’s stock worth $5,308,000 after purchasing an additional 4,788 shares during the last quarter. Aperio Group LLC bought a new position in Triumph Bancorp in the 2nd quarter worth approximately $45,000. Finally, Municipal Employees Retirement System of Michigan raised its position in Triumph Bancorp by 295.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 28,570 shares of the financial services provider’s stock worth $830,000 after purchasing an additional 21,350 shares during the last quarter. Hedge funds and other institutional investors own 74.02% of the company’s stock.

TBK traded up $1.32 during midday trading on Thursday, reaching $34.65. 301,700 shares of the company’s stock were exchanged, compared to its average volume of 147,013. Triumph Bancorp has a one year low of $27.21 and a one year high of $38.78. The business has a 50-day simple moving average of $32.40 and a two-hundred day simple moving average of $30.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $833.25 million, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.24 and a beta of 1.12.

Triumph Bancorp (NASDAQ:TBK) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. Triumph Bancorp had a net margin of 17.86% and a return on equity of 9.36%. The company had revenue of $72.51 million during the quarter, compared to analysts’ expectations of $74.07 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, research analysts anticipate that Triumph Bancorp will post 2.21 EPS for the current fiscal year.

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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