Short Interest in Triumph Bancorp Inc (TBK) Expands By 59.4%
Triumph Bancorp Inc (NASDAQ:TBK) saw a large growth in short interest during the month of September. As of September 28th, there was short interest totalling 1,173,631 shares, a growth of 59.4% from the September 14th total of 736,467 shares. Currently, 4.9% of the shares of the company are sold short. Based on an average daily volume of 299,406 shares, the short-interest ratio is presently 3.9 days.
Shares of TBK opened at $35.28 on Friday. Triumph Bancorp has a 52 week low of $28.45 and a 52 week high of $44.70. The stock has a market capitalization of $1.00 billion, a P/E ratio of 22.47, a P/E/G ratio of 1.51 and a beta of 0.91. 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 announced its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.50 EPS for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $56.86 million. Equities analysts expect that Triumph Bancorp will post 2.3 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in TBK. BlackRock Inc. grew its stake in Triumph Bancorp by 60.4% in the 2nd quarter. BlackRock Inc. now owns 1,661,319 shares of the financial services provider’s stock valued at $67,698,000 after buying an additional 625,290 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in Triumph Bancorp by 146.5% in 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 purchasing an additional 495,552 shares during the period. Emerald Advisers Inc. PA bought a new stake in Triumph Bancorp in the 2nd quarter valued at about $19,219,000. Emerald Mutual Fund Advisers Trust boosted its holdings in Triumph Bancorp by 174.0% in 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 purchasing an additional 444,844 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Triumph Bancorp by 28.7% in 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 purchasing an additional 174,755 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.
Several research analysts have recently weighed in on TBK shares. B. Riley boosted their price objective on shares of Triumph Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, June 19th. Zacks Investment Research upgraded shares of Triumph Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, July 3rd. BidaskClub lowered shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 13th. Stephens reiterated a “buy” rating and issued a $46.00 price target on shares of Triumph Bancorp in a research note on Thursday, July 19th. Finally, ValuEngine lowered shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.56.
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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