Edward Joseph Schreyer, Executive Vice President and Chief Operating Officer of Triumph Financial, Inc. (NASDAQ:TFIN), recently executed a significant stock transaction, according to a recent SEC filing. On November 1, Schreyer sold 6,129 shares of Triumph Financial common stock at an average price of $88.94 per share, totaling approximately $545,113.
Following this transaction, Schreyer retains direct ownership of 33,569 shares, which includes a combination of beneficially owned shares and restricted stock units subject to future vesting requirements. Triumph Financial, headquartered in Dallas, Texas, operates in the state commercial banks sector.
In other recent news, Triumph Financial, Inc. has announced its intention to fully redeem its outstanding $39.5 million 4.875% Fixed-to-Floating Rate Subordinated Notes due 2029. The redemption is set for November 27, 2024. This decision was disclosed in a Form 8-K filed with the Securities and Exchange Commission.
Triumph Financial also reported its third-quarter earnings, highlighting a 30% year-over-year revenue growth for its TriumphPay platform, despite ongoing challenges in the freight market. The company launched TriumphPay with C.H. Robinson, expecting significant volume integration by the first quarter of 2025. The introduction of the NextGen Audit product, aimed at enhancing invoice validation and processing times, was also announced.
Despite a recent drop in network transactions, Triumph Financial anticipates network transaction growth in the fourth quarter of 2023 and throughout 2025. The company is also planning to roll out small dollar advances and other features for its LoadPay platform in 2025. Triumph Financial reported strong growth in non-interest-bearing deposits, particularly from mortgage warehouse servicing.
InvestingPro Insights
Edward Joseph Schreyer's recent sale of Triumph Financial (NASDAQ:TFIN) shares comes at an interesting time for the company. According to InvestingPro data, TFIN's stock has shown strong performance, with a 16.59% price return over the past month and a 29.02% return over the last year. This robust performance aligns with the company's high P/E ratio of 111.28, suggesting investors are pricing in significant growth expectations.
However, potential investors should note that TFIN is trading at a high earnings multiple, as highlighted by one of the InvestingPro Tips. This valuation metric, combined with the fact that four analysts have revised their earnings downwards for the upcoming period, may indicate some caution is warranted.
Despite these concerns, TFIN remains profitable, with a gross profit of $398.01 million over the last twelve months as of Q3 2023. The company's operating income margin stands at a respectable 10.78%, demonstrating its ability to generate profits from its operations.
For those considering an investment in TFIN, it's worth noting that InvestingPro offers additional insights, with 10 more tips available for subscribers looking to deepen their analysis of Triumph Financial's prospects.
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