Financial Gravity Asset Management Inc. Buys New Shares in Triumph Financial, Inc. (NASDAQ:TFIN)

Financial Gravity Asset Management Inc. purchased a new position in shares of Triumph Financial, Inc. (NASDAQ:TFIN) in the second quarter, according to its most recent filing with the SEC. The firm purchased 26,000 shares of the company’s stock, valued at approximately $2,126,000. Financial Gravity Asset Management Inc. owned 0.11% of Triumph Financial at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System increased its stake in shares of Triumph Financial by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 6,205 shares of the company’s stock valued at $507,000 after acquiring an additional 124 shares in the last quarter. Callan Family Office LLC raised its holdings in shares of Triumph Financial by 1.1% during the second quarter. Callan Family Office LLC now owns 11,667 shares of the company’s stock valued at $954,000 after purchasing an additional 126 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Triumph Financial by 0.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 18,866 shares of the company’s stock worth $1,496,000 after purchasing an additional 153 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Triumph Financial by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock valued at $891,000 after buying an additional 200 shares during the period. Finally, ProShare Advisors LLC increased its position in Triumph Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,468 shares of the company’s stock valued at $354,000 after buying an additional 306 shares in the last quarter. 91.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Triumph Financial Stock Performance

Shares of Triumph Financial stock opened at $78.86 on Friday. Triumph Financial, Inc. has a 52 week low of $56.91 and a 52 week high of $95.46. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $84.44 and a 200-day moving average price of $78.29. The company has a market cap of $1.84 billion, a PE ratio of 60.20 and a beta of 1.20.

Triumph Financial (NASDAQ:TFIN) last released its quarterly earnings results on Wednesday, July 17th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.13). The company had revenue of $124.18 million during the quarter, compared to analysts’ expectations of $103.43 million. Triumph Financial had a net margin of 6.05% and a return on equity of 3.57%. During the same period in the previous year, the company posted $0.29 earnings per share. Equities analysts anticipate that Triumph Financial, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

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

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.