State of New Jersey Common Pension Fund D Increases Stock Holdings in Triumph Bancorp, Inc. (NASDAQ:TBK)

State of New Jersey Common Pension Fund D grew its position in Triumph Bancorp, Inc. (NASDAQ:TBKGet Rating) by 27.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 27,330 shares of the financial services provider’s stock after purchasing an additional 5,803 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Triumph Bancorp were worth $2,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TBK. Westwood Holdings Group Inc. increased its position in Triumph Bancorp by 176.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 657,546 shares of the financial services provider’s stock worth $78,301,000 after purchasing an additional 419,869 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Triumph Bancorp by 617.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 349,659 shares of the financial services provider’s stock worth $32,875,000 after purchasing an additional 300,930 shares in the last quarter. State Street Corp increased its position in Triumph Bancorp by 18.7% during the 4th quarter. State Street Corp now owns 1,137,415 shares of the financial services provider’s stock worth $135,443,000 after purchasing an additional 179,060 shares in the last quarter. THRC Management LLC purchased a new stake in Triumph Bancorp during the 4th quarter worth about $18,219,000. Finally, Luxor Capital Group LP increased its position in Triumph Bancorp by 4.1% during the 4th quarter. Luxor Capital Group LP now owns 1,968,108 shares of the financial services provider’s stock worth $234,362,000 after purchasing an additional 77,117 shares in the last quarter. Hedge funds and other institutional investors own 85.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on TBK shares. Stephens lifted their price objective on Triumph Bancorp to $76.00 in a research report on Friday, July 22nd. Raymond James decreased their price target on Triumph Bancorp from $125.00 to $94.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 7th. StockNews.com raised Triumph Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Piper Sandler decreased their price target on Triumph Bancorp to $80.00 in a research note on Friday, July 22nd. Finally, B. Riley decreased their price target on Triumph Bancorp from $113.00 to $90.00 and set a “maintains” rating on the stock in a research note on Friday, July 22nd. Three analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Triumph Bancorp Stock Performance

NASDAQ TBK opened at $72.65 on Monday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 15.69 and a beta of 1.13. Triumph Bancorp, Inc. has a 1-year low of $60.02 and a 1-year high of $136.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50-day simple moving average is $67.03 and its 200-day simple moving average is $79.99.

Triumph Bancorp (NASDAQ:TBKGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.74 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.89. Triumph Bancorp had a return on equity of 12.01% and a net margin of 23.92%. During the same period last year, the company posted $1.17 EPS. Equities analysts predict that Triumph Bancorp, Inc. will post 4.02 EPS for the current year.

Insider Activity

In related news, Director Harrison B. Barnes bought 3,800 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were acquired at an average cost of $64.65 per share, for a total transaction of $245,670.00. Following the acquisition, the director now owns 14,566 shares in the company, valued at approximately $941,691.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock.

About Triumph Bancorp

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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 four segments: Banking, Factoring, Payments, and Corporate.

See Also

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:TBKGet Rating).

Institutional Ownership by Quarter for Triumph Bancorp (NASDAQ:TBK)

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