Stephens Issues a Hold Rating on Triumph Bancorp (TBK)
Stephens analyst Matt Olney assigned a Hold rating to Triumph Bancorp (TBK) today and set a price target of $32. The company’s shares opened today at $29.85, close to its 52-week low of $27.21.
“We had been bracing for incrementally worse trends at TBK given the recent results in the transportation industry that the Bank has exposure to. Management is signaling it is shifting its strategic focus from growth to profitability and we believe this could ultimately improve the long-term NIM, ROA and ROTCE of the franchise. We are increasing our 2020 EPS forecast (from $2.52 to $2.67) but remain below Street consensus as we believe the consensus EPS ramp implies a more favorable macro-environment in the transportation industry that has yet to emerge. Our revised price target of $32 (was $30) is based on 12x our 2020 EPS forecast. Our rating is Equal-Weight.”
According to TipRanks.com, Olney is a 1-star analyst with an average return of -0.2% and a 43.3% 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 $31.83.
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Based on Triumph Bancorp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $12.73 million. In comparison, last year the company had a net profit of $12.39 million.
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.