Piper Jaffray Upgrades Triumph Bancorp (TBK) to Overweight

Piper Jaffray upgraded Triumph Bancorp (NASDAQ: TBK) from Neutral to Overweight with a price target of $42.50 (from $35.00).

Analyst Brett Rabatin comments "While we dislike moving the rating so frequently, the outlook for stronger profitability as a function of continued strong loan growth and less concern about the NIM result in our being more positive again. Fair pushbacks continue to be a lower core-funded balance sheet (44% core deposits) and the need for continued acquisitions to fund lending; however, we think our PT methodology (a multiple discount to peers) account for this."

For an analyst ratings summary and ratings history on Triumph Bancorp click here. For more ratings news on Triumph Bancorp click here.

Shares of Triumph Bancorp closed at $37.00 yesterday.

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