NasdaqGS:TBK

Stock Analysis Report

Executive Summary

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.

Rewards

Trading at 1.3% below its fair value

Earnings are forecast to grow 5.63% per year

Earnings grew by 53% over the past year

Risk Analysis

Significant insider selling over the past 3 months

Shareholders have been diluted in the past year



Snowflake Analysis

Solid track record with excellent balance sheet.

Share Price & News

How has Triumph Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TBK has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.8%

TBK

3.4%

US Banks

1.3%

US Market


1 Year Return

16.1%

TBK

26.8%

US Banks

19.4%

US Market

Return vs Industry: TBK underperformed the US Banks industry which returned 26.8% over the past year.

Return vs Market: TBK underperformed the US Market which returned 19.4% over the past year.


Shareholder returns

TBKIndustryMarket
7 Day1.8%3.4%1.3%
30 Day14.4%3.8%2.6%
90 Day17.3%10.7%5.0%
1 Year16.1%16.1%30.6%26.8%22.0%19.4%
3 Year57.7%57.7%33.9%24.5%46.8%37.3%
5 Year173.2%173.2%76.7%57.0%66.3%48.0%

Price Volatility Vs. Market

How volatile is Triumph Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Triumph Bancorp undervalued compared to its fair value and its price relative to the market?

1.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TBK ($38.25) is trading below our estimate of fair value ($38.74)

Significantly Below Fair Value: TBK is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TBK is poor value based on its PE Ratio (16.8x) compared to the Banks industry average (12.9x).

PE vs Market: TBK is good value based on its PE Ratio (16.8x) compared to the US market (18.7x).


Price to Earnings Growth Ratio

PEG Ratio: TBK is poor value based on its PEG Ratio (3x)


Price to Book Ratio

PB vs Industry: TBK is overvalued based on its PB Ratio (1.5x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Triumph Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

5.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TBK's forecast earnings growth (5.6% per year) is above the savings rate (1.7%).

Earnings vs Market: TBK's earnings (5.6% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: TBK's earnings are forecast to grow, but not significantly.

Revenue vs Market: TBK's revenue (8.5% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: TBK's revenue (8.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TBK's Return on Equity is forecast to be low in 3 years time (9.9%).


Next Steps

Past Performance

How has Triumph Bancorp performed over the past 5 years?

21.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TBK has high quality earnings.

Growing Profit Margin: TBK's current net profit margins (21.8%) are higher than last year (18.6%).


Past Earnings Growth Analysis

Earnings Trend: TBK's earnings have grown significantly by 21% per year over the past 5 years.

Accelerating Growth: TBK's earnings growth over the past year (53%) exceeds its 5-year average (21% per year).

Earnings vs Industry: TBK earnings growth over the past year (53%) exceeded the Banks industry 27.1%.


Return on Equity

High ROE: TBK's Return on Equity (9.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Triumph Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: TBK has a low level of unsold assets or inventory.

Debt Coverage by Assets: TBK's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: TBK's level of assets compared to its equity is low.

Allowance for Bad Loans: TBK has a low allowance for bad loans.

Low Risk Liabilities: TBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: TBK has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TBK's loans are broadly funded by customer deposits.

Level of Bad Loans: TBK has an appropriate level of bad loans (1%)


Next Steps

Dividend

What is Triumph Bancorp's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TBK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TBK's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TBK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TBK's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TBK's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Triumph Bancorp's salary, the management and board of directors tenure and is there insider trading?

5.9yrs

Average management tenure


CEO

Aaron Graft (41yo)

9.2yrs

Tenure

US$1,123,584

Compensation

Mr. Aaron P. Graft is the Vice Chairman, Chief Executive Officer and Public Information Officer of TBK Bank, SSB ( the “Bank”). He is the Founder and Vice Chairman of Triumph Bancorp, Inc. (the “Company”)  ...


CEO Compensation Analysis

Compensation vs Market: Aaron's total compensation ($USD1.12M) is below average for companies of similar size in the US market ($USD2.63M).

Compensation vs Earnings: Aaron's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.9yrs

Average Tenure

51yo

Average Age

Experienced Management: TBK's management team is seasoned and experienced (5.9 years average tenure).


Board Age and Tenure

9.9yrs

Average Tenure

59.5yo

Average Age

Experienced Board: TBK's board of directors are considered experienced (9.9 years average tenure).


Insider Trading

Insider Buying: TBK insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

BuyUS$48,90025 Oct 19
Michael Rafferty
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,500
Max PriceUS$32.60
SellUS$113,78525 Oct 19
Aaron Graft
EntityIndividual
Role
Chief Executive Officer
President
Shares3,500
Max PriceUS$32.51
BuyUS$27,94028 Aug 19
Michael Rafferty
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$27.94
BuyUS$23,28014 Aug 19
Michael Rafferty
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares800
Max PriceUS$29.10
BuyUS$28,76013 Jun 19
Robert Dobrient
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$28.76
BuyUS$96,98510 Jun 19
Carlos Sepulveda
EntityIndividual
Role
Chairman of the Board
Chairman
Shares3,500
Max PriceUS$27.71
BuyUS$41,55010 Jun 19
Michael Rafferty
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,500
Max PriceUS$27.70
BuyUS$88,29016 May 19
Carlos Sepulveda
EntityIndividual
Role
Chairman of the Board
Chairman
Shares3,000
Max PriceUS$29.43
BuyUS$43,87516 May 19
Michael Rafferty
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,500
Max PriceUS$29.25
BuyUS$9507 May 19
Justin Trail
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3
Max PriceUS$31.66
BuyUS$100,33007 May 19
Justin Trail
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,225
Max PriceUS$31.11
BuyUS$30,85031 Jan 19
Michael Rafferty
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$30.85

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13%.


Management Team

  • Todd Ritterbusch

    Chief Lending Officer

    • Tenure: 0.6yrs
  • Aaron Graft (41yo)

    President

    • Tenure: 9.2yrs
    • Compensation: US$1.12m
  • R. Fowler (65yo)

    Executive VP

    • Tenure: 9.9yrs
    • Compensation: US$601.20k
  • Gail Lehmann (61yo)

    Executive VP & Secretary

    • Tenure: 3.1yrs
    • Compensation: US$520.93k
  • Adam Nelson (41yo)

    Executive VP & General Counsel

    • Tenure: 6.9yrs
    • Compensation: US$498.47k
  • Jim Allin

    Senior Vice President of Asset Based Lending - Triumph Commercial Finance

    • Tenure: 5.3yrs
  • Luke Wyse

    Senior Vice President of Finance & Investor Relations

    • Tenure: 5.9yrs
  • Amanda Tavackoli

    Senior Vice President of Marketing & Communications

    • Tenure: 0yrs

Board Members

  • Carlos Sepulveda (61yo)

    Chairman

    • Tenure: 9.9yrs
    • Compensation: US$148.46k
  • Rick Davis (65yo)

    Independent Director

    • Tenure: 9.9yrs
    • Compensation: US$64.97k
  • Doug Kratz (68yo)

    Independent Director

    • Tenure: 6.2yrs
    • Compensation: US$115.44k
  • Chuck Anderson (58yo)

    Independent Director

    • Tenure: 9.9yrs
    • Compensation: US$73.97k
  • C. Sparks (51yo)

    Independent Director

    • Tenure: 9.9yrs
    • Compensation: US$121.19k
  • Maribess Miller (66yo)

    Independent Director

    • Tenure: 5.4yrs
    • Compensation: US$81.98k
  • Aaron Graft (41yo)

    President

    • Tenure: 9.2yrs
    • Compensation: US$1.12m
  • Robert Dobrient (57yo)

    Independent Director

    • Tenure: 9.9yrs
    • Compensation: US$79.07k
  • Justin Trail (48yo)

    Independent Director

    • Tenure: 9.9yrs
    • Compensation: US$72.97k
  • Mike Rafferty (65yo)

    Independent Director

    • Tenure: 5.4yrs
    • Compensation: US$100.47k

Company Information

Triumph Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Triumph Bancorp, Inc.
  • Ticker: TBK
  • Exchange: NasdaqGS
  • Founded:
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$964.231m
  • Shares outstanding: 25.21m
  • Website: https://www.triumphbancorp.com

Number of Employees


Location

  • Triumph Bancorp, Inc.
  • 12700 Park Central Drive
  • Suite 1700
  • Dallas
  • Texas
  • 75251
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TBKNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDNov 2014

Biography

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 t ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/13 00:50
End of Day Share Price2019/12/12 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.