Alliancebernstein L.P. Lowers Position in Triumph Bancorp, Inc. (NASDAQ:TBK)

Alliancebernstein L.P. cut its holdings in Triumph Bancorp, Inc. (NASDAQ:TBK) by 17.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,011 shares of the financial services provider’s stock after selling 7,172 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of Triumph Bancorp worth $2,632,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Triumph Bancorp by 64.2% in the first quarter. Victory Capital Management Inc. now owns 12,989 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 5,080 shares during the period. Meeder Asset Management Inc. purchased a new stake in Triumph Bancorp in the first quarter worth about $143,000. Csenge Advisory Group purchased a new stake in Triumph Bancorp in the first quarter worth about $511,000. Cornerstone Investment Partners LLC purchased a new stake in Triumph Bancorp in the first quarter worth about $265,000. Finally, KBC Group NV purchased a new stake in Triumph Bancorp in the first quarter worth about $58,000. 80.89% of the stock is owned by institutional investors.

A number of research firms recently weighed in on TBK. Zacks Investment Research lowered shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 31st. Raymond James raised shares of Triumph Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $78.00 to $111.00 in a research report on Monday, April 5th. B. Riley raised shares of Triumph Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $110.00 in a research report on Monday, April 5th. Finally, Wells Fargo & Company increased their price target on shares of Triumph Bancorp from $42.00 to $73.00 in a research report on Monday, March 8th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.13.

In related news, EVP Gail Lehmann sold 1,820 shares of the stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $84.25, for a total value of $153,335.00. Following the transaction, the executive vice president now owns 31,300 shares in the company, valued at approximately $2,637,025. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO R Bryce Fowler sold 24,593 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 31,876 shares in the company, valued at approximately $2,871,708.84. The disclosure for this sale can be found here. Company insiders own 6.23% of the company’s stock.

Shares of Triumph Bancorp stock opened at $80.87 on Friday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 20.12 and a beta of 1.08. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $87.49. Triumph Bancorp, Inc. has a 52 week low of $21.26 and a 52 week high of $97.49.

Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings data on Tuesday, April 20th. The financial services provider reported $1.32 EPS for the quarter, beating 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, analysts anticipate that Triumph Bancorp, Inc. will post 4.2 EPS for the current year.

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.

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

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