Texas Permanent School Fund acquired a new position in Triumph Bancorp Inc (NASDAQ:TBK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,205 shares of the financial services provider’s stock, valued at approximately $581,000.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Triumph Bancorp by 60.4% during the 2nd quarter. BlackRock Inc. now owns 1,661,319 shares of the financial services provider’s stock valued at $67,698,000 after acquiring an additional 625,290 shares during the last quarter. Hodges Capital Management Inc. raised its position in shares of Triumph Bancorp by 146.5% during the 2nd quarter. Hodges Capital Management Inc. now owns 833,817 shares of the financial services provider’s stock valued at $33,978,000 after acquiring an additional 495,552 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Triumph Bancorp by 28.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 784,564 shares of the financial services provider’s stock valued at $31,971,000 after acquiring an additional 174,755 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Triumph Bancorp by 174.0% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 700,550 shares of the financial services provider’s stock valued at $28,547,000 after acquiring an additional 444,844 shares during the last quarter. Finally, Emerald Advisers Inc. PA bought a new stake in shares of Triumph Bancorp during the 2nd quarter valued at $19,219,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.
TBK has been the subject of several recent research reports. Wells Fargo & Co set a $42.00 target price on shares of Triumph Bancorp and gave the company a “hold” rating in a research report on Tuesday, October 2nd. BidaskClub raised shares of Triumph Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. DA Davidson boosted their price target on shares of Triumph Bancorp from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, September 20th. Zacks Investment Research raised shares of Triumph Bancorp from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, September 19th. Finally, Stephens reissued a “buy” rating and issued a $45.00 price target on shares of Triumph Bancorp in a report on Monday, October 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Triumph Bancorp currently has a consensus rating of “Buy” and a consensus price target of $46.00.
Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Triumph Bancorp had a net margin of 15.39% and a return on equity of 10.07%. The company had revenue of $67.80 million during the quarter, compared to analyst estimates of $67.43 million. During the same quarter in the previous year, the business earned $0.47 EPS. The firm’s revenue was up 55.1% on a year-over-year basis. Equities analysts expect that Triumph Bancorp Inc will post 2.24 EPS for the current fiscal year.
In related news, Director Richard Loren Davis bought 1,500 shares of Triumph Bancorp stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average cost of $35.31 per share, with a total value of $52,965.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 9.40% of the stock is currently owned by corporate insiders.
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Triumph Bancorp Company Profile
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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