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TBK

Triumph Bancorp

$39.30

-0.1 (-0.25%)

16:06
04/09/18
04/09
16:06
04/09/18
16:06

Triumph to acquire First Bancorp of Durango, Southern Colorado Corp.

Triumph Bancorp announced that it has signed definitive agreements to acquire First Bancorp of Durango and Southern Colorado Corp. The company also announced the entry into an asset purchase agreement by Advance Business Capital d/b/a Triumph Business Capital to acquire the transportation factoring assets of Interstate Capital Corporation. First Bancorp of Durango is a bank holding company with $646M in total assets as of December 31, 2017. Its wholly-owned community banking subsidiary, The First National Bank of Durango, serves consumers and businesses from four branches in Durango, Colorado and one branch in Bayfield, Colorado. Its wholly-owned subsidiary, Bank of New Mexico, serves consumers and businesses from three branches in Albuquerque, Gallup and Grants, New Mexico. Southern Colorado Corp. is a bank holding company with $88M in total assets as of December 31, 2017. Its wholly-owned community banking subsidiary, Citizens Bank of Pagosa Springs, serves consumers and businesses from its two branches in Pagosa Springs, Colorado. Following the close of the transactions, The First National Bank of Durango, Bank of New Mexico and Citizens Bank of Pagosa Springs will be merged into the company's subsidiary bank, TBK Bank, SSB, with the resulting institution operating under the TBK Bank brand name. These transactions have been unanimously approved by the boards of Triumph Bancorp, First Bancorp of Durango and Southern Colorado Corp., and are subject to customary closing conditions, including receipt of required regulatory approvals. The transactions are expected to close during Q3 of 2018.

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TBK Triumph Bancorp
$39.30

-0.1 (-0.25%)

10/20/17
DADA
10/20/17
NO CHANGE
Target $36
DADA
Buy
Triumph Bancorp price target raised to $36 from $32 at DA Davidson
DA Davidson analyst Gary Tenner raised his price target on Triumph Bancorp to $36 and kept his Buy rating following Q3 results. Tenner anticipates a strong Q4 given the momentum in loan growth as well as the addition of Independent Bank branches earlier this month. The analyst also notes that net interest margins remained firm, while the management remains focused on more M&A activity.
01/23/18
PIPR
01/23/18
UPGRADE
Target $42.5
PIPR
Overweight
Triumph Bancorp upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Brett Rabatin upgraded Triumph Bancorp to Overweight and raised his price target for the shares to $42.50 from $35. The analyst has higher confidence on high-teen core earnings growth over the next two years due to a lower tax rate. He believes the company's revenue fundamentals are "very good."
01/23/18
RILY
01/23/18
UPGRADE
Target $42
RILY
Buy
Triumph Bancorp upgraded to Buy from Neutral at B. Riley FBR
B Riley FBR analyst Stephen Moss upgraded Triumph Bancorp to Buy and raised his price target for the shares to $42 from $38 following the company's Q4 results. Piper Jaffray this morning also upgraded the shares.
04/05/18
WELS
04/05/18
DOWNGRADE
Target $43
WELS
Market Perform
Triumph Bancorp downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Jared Shaw downgraded Triumph Bancorp to Market Perform with an unchanged price target of $43. The analyst believes the valuation "has caught up to broader performance" with the shares up 138% since 2016. He notes the stock now trades at a slight premium to the group.

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