Triumph Bancorp (TBK) Rating Reiterated by Stephens
Triumph Bancorp (NASDAQ:TBK)‘s stock had its “buy” rating reiterated by research analysts at Stephens in a note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $38.00 price objective on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 33.47% from the stock’s previous close.
The analysts wrote, “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.””
Several other brokerages have also issued reports on TBK. Zacks Investment Research raised Triumph Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. BidaskClub raised Triumph Bancorp from a “sell” rating to a “hold” rating in a report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Triumph Bancorp has a consensus rating of “Hold” and an average price target of $46.20.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Triumph Bancorp had a return on equity of 9.61% and a net margin of 17.70%. The company had revenue of $68.85 million for the quarter, compared to analysts’ expectations of $70.32 million. During the same period last year, the firm earned $0.52 earnings per share. On average, research analysts expect that Triumph Bancorp will post 2.71 earnings per share for the current fiscal year.
In other news, Director Michael P. Rafferty acquired 1,000 shares of the company’s stock in a transaction on Tuesday, January 29th. The shares were bought at an average price of $30.85 per share, with a total value of $30,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.54% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Triumph Bancorp by 2.4% during the fourth quarter. BlackRock Inc. now owns 3,588,809 shares of the financial services provider’s stock worth $106,588,000 after buying an additional 83,458 shares during the last quarter. Mendon Capital Advisors Corp grew its holdings in shares of Triumph Bancorp by 4.2% during the fourth quarter. Mendon Capital Advisors Corp now owns 1,440,538 shares of the financial services provider’s stock worth $42,784,000 after buying an additional 57,930 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Triumph Bancorp by 28.4% during the third quarter. Vanguard Group Inc now owns 1,391,825 shares of the financial services provider’s stock worth $53,167,000 after buying an additional 307,629 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Triumph Bancorp by 28.4% during the third quarter. Vanguard Group Inc. now owns 1,391,825 shares of the financial services provider’s stock worth $53,167,000 after buying an additional 307,629 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Triumph Bancorp by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 891,542 shares of the financial services provider’s stock worth $26,479,000 after buying an additional 52,937 shares during the last quarter. 81.71% of the stock is currently owned by institutional investors.
Triumph Bancorp Company Profile
Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through Banking, Factoring, and Corporate segments. It offers depository products, including checking, savings, and money market accounts, as well as certificates of deposit; and commercial and industrial loans, loans to purchase capital equipment, and business loans for working capital and operational purposes.
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