TowneBank (TOWN) Given Hold Rating at Brean Capital

TowneBank (NASDAQ:TOWN)‘s stock had its “hold” rating reaffirmed by stock analysts at Brean Capital in a research note issued on Monday, February 5th.

Several other analysts have also recently weighed in on TOWN. Zacks Investment Research cut shares of TowneBank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Piper Jaffray Companies set a $34.00 target price on shares of TowneBank and gave the stock a “hold” rating in a research report on Tuesday, October 31st. BidaskClub cut shares of TowneBank from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $35.00 target price on shares of TowneBank in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $34.25.

Shares of TowneBank (TOWN) opened at $28.80 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $2,093.35, a PE ratio of 18.62 and a beta of 0.98. TowneBank has a fifty-two week low of $28.35 and a fifty-two week high of $35.30.

TowneBank (NASDAQ:TOWN) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $109.14 million during the quarter, compared to analyst estimates of $108.16 million. TowneBank had a net margin of 17.77% and a return on equity of 8.73%. analysts expect that TowneBank will post 1.98 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOWN. UBS Asset Management Americas Inc. increased its holdings in TowneBank by 3.4% during the second quarter. UBS Asset Management Americas Inc. now owns 28,610 shares of the bank’s stock valued at $881,000 after buying an additional 943 shares during the last quarter. California Public Employees Retirement System increased its holdings in TowneBank by 4.6% during the second quarter. California Public Employees Retirement System now owns 122,093 shares of the bank’s stock valued at $3,760,000 after buying an additional 5,400 shares during the last quarter. Vanguard Group Inc. increased its holdings in TowneBank by 0.3% during the second quarter. Vanguard Group Inc. now owns 4,425,268 shares of the bank’s stock valued at $136,298,000 after buying an additional 14,299 shares during the last quarter. Renaissance Technologies LLC increased its holdings in TowneBank by 6.5% during the second quarter. Renaissance Technologies LLC now owns 763,287 shares of the bank’s stock valued at $23,509,000 after buying an additional 46,600 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in TowneBank by 1,222.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 70,100 shares of the bank’s stock valued at $2,348,000 after buying an additional 64,800 shares during the last quarter. 38.50% of the stock is owned by hedge funds and other institutional investors.

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TowneBank Company Profile

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.

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