Triumph Bancorp Announces $50 Million Stock Repurchase Program
Triumph Bancorp (Nasdaq: TBK) has announced a buyback program for up to $50 million of its common stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Triumph Bancorp (Nasdaq: TBK) has announced a buyback program for up to $50 million of its common stock. The repurchase will occur through open market transactions or private negotiations. The timing and specifics of the buybacks will depend on various factors, including market conditions and stock price. This program is authorized for one year and can be modified or halted at the company's discretion. The move is seen as a way to enhance shareholder value and reflects management’s confidence in the company’s financial health.
Positive
- Authorization of a $50 million stock buyback program to enhance shareholder value.
- Management's confidence indicated by the buyback, reflecting strong financial health.
Negative
- None.
Details
News Market Reaction – TBK
The recorded move for TBK in the trading session of this news was +5.59%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
DALLAS, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Triumph Bancorp, Inc. (Nasdaq: TBK) (“Triumph” or the “Company”) announced today that its board of directors has authorized the Company to repurchase up to
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Triumph
Triumph Bancorp, Inc. (Nasdaq: TBK) is a financial holding company headquartered in Dallas, Texas, offering a diversified line of payments, factoring, and banking services. www.triumphbancorp.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 12, 2021. Forward-looking statements speak only as of the date made and Triumph undertakes no duty to update the information.
Source: Triumph Bancorp, Inc.
Investor Relations:
Luke Wyse
Senior Vice President, Finance & Investor Relations
lwyse@tbkbank.com
214-365-6936
Media Contact:
Amanda Tavackoli
Senior Vice President, Director of Corporate Communication
atavackoli@tbkbank.com
214-365-6930
FAQ
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