Envestnet Asset Management Inc. Increases Stake in Triumph Financial, Inc. (NASDAQ:TFIN)

Envestnet Asset Management Inc. raised its position in Triumph Financial, Inc. (NASDAQ:TFIN) by 108.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 149,150 shares of the company’s stock after purchasing an additional 77,546 shares during the period. Envestnet Asset Management Inc. owned 0.64% of Triumph Financial worth $12,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TFIN. Federated Hermes Inc. increased its stake in shares of Triumph Financial by 8.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,504 shares of the company’s stock worth $286,000 after acquiring an additional 264 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Triumph Financial by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 570,688 shares of the company’s stock worth $46,654,000 after acquiring an additional 63,760 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Triumph Financial by 182.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,169 shares of the company’s stock worth $2,875,000 after acquiring an additional 22,711 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Triumph Financial by 8.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 20,413 shares of the company’s stock worth $1,669,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Triumph Financial in the 2nd quarter worth $2,126,000. Hedge funds and other institutional investors own 91.11% of the company’s stock.

Insider Activity at Triumph Financial

In related news, EVP Adam D. Nelson sold 4,598 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $87.27, for a total value of $401,267.46. Following the completion of the sale, the executive vice president now directly owns 32,285 shares in the company, valued at approximately $2,817,511.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Triumph Financial news, COO Edward Joseph Schreyer sold 6,128 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $81.41, for a total transaction of $498,880.48. Following the sale, the chief operating officer now owns 39,698 shares in the company, valued at $3,231,814.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Adam D. Nelson sold 4,598 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $87.27, for a total transaction of $401,267.46. Following the sale, the executive vice president now owns 32,285 shares of the company’s stock, valued at approximately $2,817,511.95. The disclosure for this sale can be found here. Company insiders own 6.15% of the company’s stock.

Triumph Financial Stock Down 2.6 %

Shares of NASDAQ:TFIN opened at $77.95 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. Triumph Financial, Inc. has a 52-week low of $56.91 and a 52-week high of $95.46. The stock’s fifty day simple moving average is $83.68 and its 200-day simple moving average is $78.80. The company has a market capitalization of $1.82 billion, a P/E ratio of 59.61 and a beta of 1.20.

Triumph Financial (NASDAQ:TFIN) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.13). Triumph Financial had a net margin of 6.05% and a return on equity of 3.57%. The company had revenue of $124.18 million during the quarter, compared to analysts’ expectations of $103.43 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. As a group, equities research analysts forecast that Triumph Financial, Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TFIN shares. Stephens reissued an “equal weight” rating and set a $74.00 price objective on shares of Triumph Financial in a research report on Thursday, July 18th. Piper Sandler lifted their price objective on Triumph Financial from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Friday, July 19th. DA Davidson lifted their price objective on Triumph Financial from $68.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods cut Triumph Financial from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $75.00 to $70.00 in a research note on Friday, July 19th.

About Triumph Financial

Triumph Financial, Inc, a financial holding company, provides various payments, factoring, and banking services in the United States. It operates through Banking, Factoring, and Payments segments. The company offers deposit products, including checking, savings, money market and certificates of deposit; and loan products, such as commercial real estate, land, commercial construction and land development, residential real estate, commercial agriculture, and consumer loans, as well as commercial and industrial loans, equipment loans, asset-based loans, business loans for working capital and operational purposes, and liquid credit loans.