TowneBank (NASDAQ:TOWN) has earned an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $34.25.
A number of equities research analysts recently issued reports on the stock. Brean Capital reiterated a “hold” rating on shares of TowneBank in a research report on Monday, February 5th. Sandler O’Neill reiterated a “hold” rating and set a $32.00 target price on shares of TowneBank in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $35.00 target price on shares of TowneBank in a research report on Friday, December 22nd. BidaskClub cut shares of TowneBank from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of TowneBank from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, January 31st.
Shares of TowneBank (NASDAQ:TOWN) traded down $0.10 during mid-day trading on Tuesday, hitting $28.70. 117,402 shares of the stock were exchanged, compared to its average volume of 218,630. TowneBank has a 52 week low of $28.35 and a 52 week high of $35.30. The firm has a market cap of $2,093.35, a PE ratio of 20.35 and a beta of 0.98. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.
TowneBank (NASDAQ:TOWN) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. TowneBank had a net margin of 17.77% and a return on equity of 8.73%. The company had revenue of $109.14 million during the quarter, compared to analysts’ expectations of $108.16 million. research analysts forecast that TowneBank will post 1.98 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of TowneBank by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 533,828 shares of the bank’s stock worth $16,414,000 after purchasing an additional 12,601 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of TowneBank by 119.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 153,900 shares of the bank’s stock worth $4,732,000 after purchasing an additional 83,800 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of TowneBank by 14.0% during the 4th quarter. First Republic Investment Management Inc. now owns 16,289 shares of the bank’s stock worth $501,000 after purchasing an additional 2,000 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of TowneBank during the 4th quarter worth about $668,000. Finally, BlackRock Inc. increased its position in shares of TowneBank by 3.3% during the 4th quarter. BlackRock Inc. now owns 3,732,771 shares of the bank’s stock worth $114,782,000 after purchasing an additional 117,629 shares in the last quarter. Institutional investors and hedge funds own 38.50% of the company’s stock.
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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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