Swiss National Bank boosted its stake in shares of Triumph Bancorp, Inc. (NASDAQ:TBK) by 1.1% during the first quarter, HoldingsChannel.com reports. The firm owned 54,000 shares of the financial services provider’s stock after acquiring an additional 600 shares during the period. Swiss National Bank’s holdings in Triumph Bancorp were worth $4,179,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its stake in Triumph Bancorp by 6.9% during the fourth quarter. BlackRock Inc. now owns 3,555,430 shares of the financial services provider’s stock worth $172,617,000 after purchasing an additional 228,067 shares during the period. Luxor Capital Group LP purchased a new position in shares of Triumph Bancorp in the 4th quarter valued at $65,921,000. Royce & Associates LP raised its stake in shares of Triumph Bancorp by 194.1% in the 4th quarter. Royce & Associates LP now owns 588,601 shares of the financial services provider’s stock valued at $28,577,000 after acquiring an additional 388,455 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Triumph Bancorp by 1,230.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 295,414 shares of the financial services provider’s stock valued at $22,862,000 after acquiring an additional 273,202 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Triumph Bancorp in the 4th quarter valued at $9,279,000. 80.89% of the stock is currently owned by institutional investors.
TBK has been the topic of a number of research reports. Raymond James raised shares of Triumph Bancorp from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $78.00 to $111.00 in a research note on Monday, April 5th. B. Riley raised shares of Triumph Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $110.00 in a research note on Monday, April 5th. Wells Fargo & Company raised their target price on shares of Triumph Bancorp from $42.00 to $73.00 in a research note on Monday, March 8th. Finally, Zacks Investment Research downgraded shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 31st. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Triumph Bancorp presently has an average rating of “Buy” and an average price target of $64.13.
Triumph Bancorp stock opened at $81.84 on Friday. Triumph Bancorp, Inc. has a 12-month low of $21.26 and a 12-month high of $97.49. The stock has a market cap of $2.04 billion, a P/E ratio of 20.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.08 and a quick ratio of 1.07. The business’s fifty day moving average price is $87.49.
Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings data on Tuesday, April 20th. The financial services provider reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.41. Triumph Bancorp had a net margin of 25.46% and a return on equity of 14.39%. As a group, sell-side analysts predict that Triumph Bancorp, Inc. will post 4.2 earnings per share for the current year.
In other Triumph Bancorp news, EVP Gail Lehmann sold 1,820 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $84.25, for a total transaction of $153,335.00. Following the completion of the transaction, the executive vice president now directly owns 31,300 shares of the company’s stock, valued at approximately $2,637,025. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO R Bryce Fowler sold 24,593 shares of the firm’s stock in a transaction on Monday, April 26th. The stock was sold at an average price of $90.09, for a total transaction of $2,215,583.37. Following the transaction, the chief financial officer now directly owns 31,876 shares of the company’s stock, valued at $2,871,708.84. The disclosure for this sale can be found here. 6.23% of the stock is owned by company insiders.
Triumph Bancorp Profile
Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides various banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through three segments: Banking, Factoring, and Corporate.
Recommended Story: The basics of gap trading strategies
Want to see what other hedge funds are holding TBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Triumph Bancorp, Inc. (NASDAQ:TBK).