In a report released today, Matt Olney from Stephens maintained a Buy rating on Triumph Bancorp (TBK), with a price target of $34. The company’s shares opened today at $27.78, close to its 52-week low of $27.47.
Olney said:
“We’re moderating our outlook and our revised price target of $34 (was $38), which represents a 12x multiple on our updated 2020 EPS estimate of $2.86 (previous estimate of $3.16). Our rating is Overweight. KEY EPS Miss; Lowering Our EPS Forecasts. TBK reported GAAP EPS of $0.55. Excluding $400K in non-operating income, we calculate operating EPS of $0.54, above consensus forecast of $0.53. The EPS beat was driven by better-than-expected LLP expense (+0.03 to EPS) and partially offset by an elevated tax rate (-$0.01 to EPS). TBK reported PPNR of $19.9 million, below consensus forecast of $20.6 million. While 1Q19 results were driven by the soft revenue (due to loan growth and NIM compression), we partially attribute this to seasonality that should see improving trends throughout 2019.”
According to TipRanks.com, Olney is a 2-star analyst with an average return of 0.4% and a 45.2% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.
Triumph Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $34.50, implying a 24.2% upside from current levels. In a report released today, B.Riley FBR also maintained a Buy rating on the stock with a $33 price target.
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Triumph Bancorp’s market cap is currently $791.8M and has a P/E ratio of 14.40. The company has a Price to Book ratio of 1.24.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TBK in relation to earlier this year.
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Triumph Bancorp, Inc. operates as a financial holding company which offers traditional banking and financial solutions. It operates through the following segments: Factoring, Banking and Corporate. The Factoring segment includes the operations of Triumph Business Capital which offers factoring services.
