Towne Bank (NASDAQ:TOWN) Releases Earnings Results, Misses Estimates By $0.01 EPS

Towne Bank (NASDAQ:TOWN) announced its quarterly earnings data on Thursday, October 26th. The bank reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01), Bloomberg Earnings reports. The company had revenue of $115.34 million for the quarter, compared to the consensus estimate of $118.96 million. Towne Bank had a net margin of 19.55% and a return on equity of 8.49%.

Towne Bank (NASDAQ:TOWN) opened at $31.85 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1,989.79, a P/E ratio of 21.06 and a beta of 1.00. Towne Bank has a 52-week low of $27.65 and a 52-week high of $35.30.

A number of research analysts recently issued reports on the company. Piper Jaffray Companies reiterated a “neutral” rating and set a $32.00 price objective on shares of Towne Bank in a research note on Thursday, October 5th. Zacks Investment Research upgraded Towne Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, BidaskClub downgraded Towne Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.

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About Towne Bank

TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.

Earnings History for Towne Bank (NASDAQ:TOWN)

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