BlackRock Inc. Makes New $259.02 Million Investment in Triumph Financial, Inc. $TFIN

Key Points

• BlackRock acquired 3.39 million shares of Triumph Financial during the second quarter, worth approximately $259 million and representing a 14.2% stake. Institutional investors collectively own 91.11% of the company.
• Analysts raised their price targets, but coverage remains cautious: all six analysts rate the stock “Hold,” with an average target price of $85 versus a recent share price of $73.67.
• Triumph Financial met quarterly EPS expectations at $0.44 and exceeded revenue estimates with $120.24 million. The stock trades near the upper end of its 12-month range, which spans $46.43 to $83.52.

BlackRock Inc. bought a new position in shares of Triumph Financial, Inc. (NYSE:TFIN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,394,337 shares of the company's stock, valued at approximately $259,022,000. BlackRock Inc. owned about 14.20% of Triumph Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Triumph Financial by 73.8% during the first quarter. Royal Bank of Canada now owns 27,541 shares of the company's stock worth $1,592,000 after buying an additional 11,694 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Triumph Financial by 45.2% in the 1st quarter. AQR Capital Management LLC now owns 5,760 shares of the company's stock worth $333,000 after acquiring an additional 1,794 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Triumph Financial by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the company's stock worth $759,000 after acquiring an additional 564 shares during the period. Norges Bank purchased a new position in shares of Triumph Financial during the 2nd quarter worth $304,000. Finally, First Trust Advisors LP boosted its position in shares of Triumph Financial by 59.8% during the 2nd quarter. First Trust Advisors LP now owns 24,198 shares of the company's stock valued at $1,334,000 after acquiring an additional 9,052 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company's stock.

Insider Activity at Triumph Financial

In other Triumph Financial news, EVP Edward Joseph Schreyer sold 2,900 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $73.75, for a total transaction of $213,875.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Adam D. Nelson sold 3,750 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $79.05, for a total transaction of $296,437.50. Following the completion of the transaction, the executive vice president directly owned 23,755 shares of the company's stock, valued at $1,877,832.75. This represents a 13.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TFIN shares. Stephens raised their price objective on shares of Triumph Financial from $82.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price target on shares of Triumph Financial from $78.00 to $88.00 and gave the company a "market perform" rating in a research note on Thursday, July 23rd. DA Davidson lifted their price target on shares of Triumph Financial from $65.00 to $82.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Triumph Financial in a report on Friday, August 7th. Finally, B. Riley Financial raised their target price on Triumph Financial from $70.00 to $82.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $85.00.

Triumph Financial Stock Performance

Shares of Triumph Financial stock opened at $73.67 on Thursday. The business has a 50-day moving average of $76.56 and a 200 day moving average of $68.35. Triumph Financial, Inc. has a 12 month low of $46.43 and a 12 month high of $83.52. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 49.78 and a beta of 1.39. 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 (NYSE:TFIN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.44. The company had revenue of $120.24 million for the quarter, compared to analyst estimates of $114.67 million. Triumph Financial had a net margin of 7.17% and a return on equity of 4.69%. As a group, sell-side analysts forecast that Triumph Financial, Inc. will post 1.93 earnings per share for the current year.

About Triumph Financial

Triumph Financial, Inc NYSE: TFIN is a financial holding company that operates through its banking subsidiary to provide commercial banking and related financial services. The company focuses on delivering deposit, lending and payment solutions customary to community-oriented banks and regional financial institutions.

Products and services typically offered include commercial and consumer lending, residential mortgage origination and servicing, deposit accounts, cash management and treasury services, and other fee-based banking products.

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