What Happened?
Shares of financial services company Triumph Financial (NASDAQ:TFIN) jumped 2.3% in the afternoon session after B. Riley Securities upgraded the company's stock to Buy from Neutral and raised its price target. The firm increased its price target on the financial holding company to $70 from $55. The upgrade signaled a more positive outlook for the company's shares. This contrasted with a more cautious stance from DA Davidson, which lowered its price target on Triumph Financial to $57 from $63, pointing to ongoing challenges in the freight sector. DA Davidson kept its Neutral rating on the stock.
After the initial pop the shares cooled down to $59.81, up 2.8% from previous close.
Is now the time to buy Triumph Financial? Access our full analysis report here.
What Is The Market Telling Us
Triumph Financial’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 23 hours ago when the stock gained 11.1% on the news that investor fears over a potential credit crisis eased, following reassuring commentary from regional banks. After a volatile previous week sparked by news of stress from some U.S. regional banks, sentiment shifted. These events now appear to be isolated, according to market analysis. The recovery was evident as the KBW Nasdaq Regional Banking Index rose, regaining some of its recent losses. Adding to the positive momentum, several regional bank CEOs reported that their loan portfolios remain broadly healthy. This wave of reassuring news helped calm jitters that had revived memories of the 2023 banking turmoil, leading to a recovery in bank stock prices.
Triumph Financial is down 32.6% since the beginning of the year, and at $59.81 per share, it is trading 45.7% below its 52-week high of $110.16 from November 2024. Investors who bought $1,000 worth of Triumph Financial’s shares 5 years ago would now be looking at an investment worth $1,362.
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