TowneBank (NASDAQ:TOWN) has received a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $34.00.
A number of equities analysts have issued reports on TOWN shares. BidaskClub cut TowneBank from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. Zacks Investment Research cut TowneBank from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Sandler O’Neill restated a “hold” rating and set a $32.00 price target on shares of TowneBank in a report on Tuesday, February 6th. Brean Capital restated a “hold” rating on shares of TowneBank in a report on Monday, April 16th. Finally, Raymond James upgraded TowneBank from a “market perform” rating to an “outperform” rating in a report on Thursday, April 26th.
Institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new position in shares of TowneBank during the fourth quarter worth approximately $206,000. Evermay Wealth Management LLC acquired a new position in shares of TowneBank during the first quarter worth approximately $231,000. Trexquant Investment LP acquired a new position in shares of TowneBank during the first quarter worth approximately $237,000. SG Americas Securities LLC raised its position in shares of TowneBank by 89.3% during the first quarter. SG Americas Securities LLC now owns 8,442 shares of the bank’s stock worth $241,000 after purchasing an additional 3,983 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of TowneBank during the first quarter worth approximately $290,000. Hedge funds and other institutional investors own 39.74% of the company’s stock.
Shares of TOWN stock opened at $31.20 on Thursday. TowneBank has a one year low of $27.85 and a one year high of $35.30. The company has a market capitalization of $2.26 billion, a P/E ratio of 20.00 and a beta of 1.01.
TowneBank (NASDAQ:TOWN) last announced its earnings results on Wednesday, April 25th. The bank reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. TowneBank had a return on equity of 9.52% and a net margin of 17.38%. The business had revenue of $126.28 million for the quarter, compared to analysts’ expectations of $122.39 million. equities analysts predict that TowneBank will post 2.03 EPS for the current fiscal year.
TowneBank provides retail and commercial banking services for small- and medium-size businesses, professionals, and individuals. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including demand deposits, negotiable order of withdrawal accounts, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.
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