Bank of America Corp DE Purchases Shares of 501,324 Triumph Financial, Inc. $TFIN

Key Points

• Bank of America initiated a major position in Triumph Financial, purchasing 501,324 shares valued at approximately $38.3 million, representing about 2.1% of the company.
• Institutional ownership is substantial at 91.11%, with BlackRock, Diamond Hill Capital Management and Legal & General among investors that recently acquired shares.
• Triumph Financial reported quarterly revenue of $120.24 million and EPS of $0.44, while analysts maintain a consensus “Hold” rating with an average price target of $85. The stock opened at $62.31, down 1.1%.

Bank of America Corp DE purchased a new stake in shares of Triumph Financial, Inc. (NYSE:TFIN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 501,324 shares of the company's stock, valued at approximately $38,256,000. Bank of America Corp DE owned about 2.10% of Triumph Financial as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Triumph Financial by 48.8% during the first quarter. Royal Bank of Canada now owns 61,529 shares of the company's stock valued at $3,671,000 after purchasing an additional 20,180 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Triumph Financial during the 2nd quarter valued at approximately $3,829,000. BlackRock Inc. purchased a new stake in shares of Triumph Financial in the second quarter worth $259,022,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Triumph Financial during the 2nd quarter valued at $38,807,000. Finally, Empirical Capital Management LLC bought a new stake in shares of Triumph Financial during the 4th quarter valued at $1,298,000. Institutional investors own 91.11% of the company's stock.

Triumph Financial Stock Down 1.1%

NYSE:TFIN opened at $62.31 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.01 and a quick ratio of 1.01. Triumph Financial, Inc. has a 1-year low of $46.43 and a 1-year high of $83.52. The company has a 50-day moving average of $73.37 and a 200 day moving average of $69.01. The firm has a market cap of $1.49 billion, a PE ratio of 42.10 and a beta of 1.37.

Triumph Financial (NYSE:TFIN - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $0.44 EPS for the quarter, meeting analysts' consensus estimates of $0.44. Triumph Financial had a net margin of 7.17% and a return on equity of 4.69%. The business had revenue of $120.24 million for the quarter, compared to the consensus estimate of $114.67 million. As a group, research analysts anticipate that Triumph Financial, Inc. will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling at Triumph Financial

In related news, EVP Adam D. Nelson sold 3,750 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $79.05, for a total transaction of $296,437.50. Following the transaction, the executive vice president directly owned 23,755 shares in the company, valued at $1,877,832.75. The trade was a 13.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Schreyer sold 2,900 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $73.75, for a total value of $213,875.00. Following the transaction, the executive vice president directly owned 15,534 shares in the company, valued at $1,145,632.50. This represents a 15.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.51% of the company's stock.

Wall Street Analyst Weigh In

TFIN has been the subject of several recent analyst reports. Stephens upped their target price on shares of Triumph Financial from $82.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Triumph Financial in a report on Friday, August 7th. Zacks Research downgraded Triumph Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. B. Riley Financial increased their price objective on shares of Triumph Financial from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Triumph Financial from $78.00 to $88.00 and gave the company a "market perform" rating in a report on Thursday, July 23rd. Six analysts have rated the stock with a Hold rating, According to MarketBeat, Triumph Financial presently has a consensus rating of "Hold" and a consensus target price of $85.00.

Triumph Financial Company Profile

Triumph Financial, Inc is a financial holding company headquartered in Dallas, Texas. Formerly known as Triumph Bancorp, the company changed its name to Triumph Financial in 2023 to reflect its broader focus on technology-enabled financial services. It serves businesses and consumers primarily in the United States through banking, payments and factoring solutions.

Through its banking operations, Triumph Financial provides commercial and personal banking products, including deposit accounts, treasury management services, commercial lending and consumer financial products.

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