Triumph Financial, Inc. (NASDAQ:TFIN) disclosed in a recent filing that Todd Ritterbusch, President of TBK Bank, a subsidiary of Triumph Financial, has sold a significant portion of his holdings in the company. The transactions, which took place on May 10 and May 13, involved the sale of a total of 10,854 shares of Triumph Financial's common stock, resulting in aggregate proceeds of $802,149.
According to the filing, the sales occurred at weighted average prices ranging from $73.84 to $74.07 per share. Ritterbusch sold 7,854 shares on May 10 at the lower end of the price range, followed by a sale of 3,000 shares on May 13 at the higher price point.
Following these transactions, Ritterbusch's remaining direct ownership in Triumph Financial stands at 7,434 shares of common stock. Additionally, the filing noted that he has beneficial ownership of 4,471 shares and holds 2,963 shares of restricted stock or restricted stock units subject to future vesting requirements.
The disclosure also mentioned Ritterbusch's ownership of depository shares, each representing a 1/40th interest in a share of Triumph Financial's 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock. He owns 21,000 of these depository shares, according to the filing.
The filing was signed on behalf of Ritterbusch by Adam D. Nelson, Attorney-in-fact, on May 14, following the transactions that were part of the company's routine financial disclosures.
Investors often monitor insider transactions such as these for insights into executive sentiment on the company's future performance and valuation. Triumph Financial, Inc., based in Dallas, Texas, operates as a state commercial bank and is known for providing various banking and financial services.
InvestingPro Insights
In light of the recent insider transactions at Triumph Financial, Inc. (NASDAQ:TFIN), investors may find it valuable to consider the broader financial landscape of the company as reflected by current metrics and analyst insights. According to InvestingPro data, Triumph Financial has a market capitalization of approximately $1.75 billion and is trading at a Price to Earnings (P/E) ratio of 55.89, slightly higher than the adjusted P/E ratio for the last twelve months as of Q1 2024, which stands at 56.4. This indicates that the stock is trading at a high earnings multiple, which is an InvestingPro Tip that could suggest the market has optimistic expectations for the company’s future earnings growth.
However, the company has been grappling with weak gross profit margins, a concern highlighted by another InvestingPro Tip. This is reflected in the company's revenue contraction, with a -14.79% change in revenue over the last twelve months as of Q1 2024. Additionally, the company's revenue growth for Q1 2024 shows a quarterly decrease of -6.54%. Despite these challenges, analysts remain positive about the company's profitability prospects, predicting that Triumph Financial will be profitable this year, as noted in the InvestingPro Tips. Moreover, the company has demonstrated a strong return over the last year with a 52.94% price total return, suggesting resilience in its stock performance.
For those interested in delving deeper into the financial health and future prospects of Triumph Financial, Inc., InvestingPro offers a wealth of additional tips and analysis. In fact, there are 9 more InvestingPro Tips available, which can provide valuable insights into making informed investment decisions. To explore these further, visit https://www.investing.com/pro/TFIN and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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