LaSalle Street Capital Management LLC decreased its stake in shares of Triumph Bancorp Inc (NASDAQ:TBK) by 32.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,192 shares of the financial services provider’s stock after selling 3,864 shares during the quarter. LaSalle Street Capital Management LLC’s holdings in Triumph Bancorp were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Triumph Bancorp in the 1st quarter valued at $100,000. C M Bidwell & Associates Ltd. acquired a new stake in Triumph Bancorp in the 1st quarter valued at $118,000. Waratah Capital Advisors Ltd. acquired a new stake in Triumph Bancorp in the 1st quarter valued at $216,000. California Public Employees Retirement System acquired a new stake in Triumph Bancorp in the 1st quarter valued at $249,000. Finally, Barclays PLC grew its position in Triumph Bancorp by 132.4% in the 1st quarter. Barclays PLC now owns 6,459 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 3,680 shares during the period. 65.56% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. BidaskClub downgraded shares of Triumph Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Zacks Investment Research downgraded shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Stephens reissued a “buy” rating and issued a $46.00 price target on shares of Triumph Bancorp in a research report on Thursday, July 19th. B. Riley lifted their price target on shares of Triumph Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, June 19th. Finally, ValuEngine raised shares of Triumph Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.11.
In other Triumph Bancorp news, Director C Todd Sparks bought 3,000 shares of the stock in a transaction dated Friday, July 27th. The shares were bought at an average cost of $38.75 per share, for a total transaction of $116,250.00. Following the purchase, the director now directly owns 46,169 shares of the company’s stock, valued at approximately $1,789,048.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 9.40% of the stock is currently owned by company insiders.
Shares of NASDAQ:TBK opened at $41.85 on Tuesday. 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 Inc has a 1-year low of $27.00 and a 1-year high of $44.05. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.58 and a beta of 0.85.
Triumph Bancorp (NASDAQ:TBK) last issued its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). Triumph Bancorp had a net margin of 17.55% and a return on equity of 10.51%. The company had revenue of $58.20 million for the quarter, compared to the consensus estimate of $56.86 million. sell-side analysts forecast that Triumph Bancorp Inc will post 2.4 earnings per share for the current 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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