Stephens analyst Matt Olney maintained a Buy rating on Triumph Bancorp (TBK) today and set a price target of $34. The company’s shares closed yesterday at $28.85, close to its 52-week low of $27.21.
Olney said:
“We believe Triumph Bancorp represents a unique small-cap growth bank that should produce above average profitability over the long- term. TBK’s factoring business (15% of loans / 35% of revenue) drives an elevated NIM along with seasonal quarterly results that caused sluggish 1Q19 results. In the near-term, the factoring segment is vulnerable to volatile business sentiment around potential tariff impacts but we think this is reflected at current valuations (1.7x tbv/9.4x consensus 2020 EPS forecast) and believe the long-term transformative potential of TriumphPay remain compelling. We are maintaining our price target of $34 that is based on a 12x multiple on our 2020 EPS forecast of $2.86 (no change). We maintain our Overweight rating.”
According to TipRanks.com, Olney is a 1-star analyst with an average return of -0.6% and a 42.9% 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.
Currently, the analyst consensus on Triumph Bancorp is a Moderate Buy with an average price target of $33.17.
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The company has a one-year high of $44.70 and a one-year low of $27.21. Currently, Triumph Bancorp has an average volume of 142.7K.
Based on the recent corporate insider activity of 46 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.
