Envestnet Asset Management Inc. Reduces Stock Position in Triumph Financial, Inc. (NASDAQ:TFIN)

Envestnet Asset Management Inc. lowered its stake in shares of Triumph Financial, Inc. (NASDAQ:TFIN) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,390 shares of the company’s stock after selling 6,082 shares during the period. Envestnet Asset Management Inc. owned 0.60% of Triumph Financial worth $8,115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Triumph Financial by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,027,420 shares of the company’s stock valued at $184,252,000 after purchasing an additional 24,868 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Triumph Financial by 34.0% during the fourth quarter. American Century Companies Inc. now owns 782,198 shares of the company’s stock valued at $71,086,000 after purchasing an additional 198,611 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Triumph Financial by 478.3% during the fourth quarter. Bank of America Corp DE now owns 350,573 shares of the company’s stock valued at $31,860,000 after purchasing an additional 289,955 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Triumph Financial by 7.6% during the fourth quarter. Northern Trust Corp now owns 227,875 shares of the company’s stock valued at $20,709,000 after purchasing an additional 16,061 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in Triumph Financial by 24.8% in the 1st quarter. Peregrine Capital Management LLC now owns 181,322 shares of the company’s stock worth $10,480,000 after acquiring an additional 35,990 shares during the last quarter. Hedge funds and other institutional investors own 91.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TFIN. DA Davidson boosted their price objective on shares of Triumph Financial from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods cut their target price on shares of Triumph Financial from $68.00 to $56.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. Finally, B. Riley reaffirmed a “neutral” rating and issued a $55.00 target price (down previously from $65.00) on shares of Triumph Financial in a research report on Wednesday, April 23rd.

Triumph Financial Trading Up 5.7%

NASDAQ:TFIN opened at $61.88 on Tuesday. Triumph Financial, Inc. has a 52 week low of $42.90 and a 52 week high of $110.58. The firm has a 50 day moving average of $59.66 and a 200 day moving average of $63.90. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 167.24 and a beta of 1.29.

Insiders Place Their Bets

In other Triumph Financial news, Director Debra A. Bradford bought 1,508 shares of Triumph Financial stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average price of $49.39 per share, with a total value of $74,480.12. Following the completion of the acquisition, the director directly owned 3,348 shares in the company, valued at approximately $165,357.72. This trade represents a 81.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harrison B. Barnes bought 1,000 shares of Triumph Financial stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average cost of $53.65 per share, with a total value of $53,650.00. Following the acquisition, the director owned 21,565 shares of the company’s stock, valued at $1,156,962.25. The trade was a 4.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 4,008 shares of company stock valued at $208,380. Insiders own 5.58% of the company’s stock.

Triumph Financial Profile

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.