TowneBank (NASDAQ:TOWN) has earned an average recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $33.00.
A number of research firms have recently weighed in on TOWN. BidaskClub raised shares of TowneBank from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research downgraded shares of TowneBank from a “buy” rating to a “hold” rating in a research report on Saturday, September 29th. Brean Capital reissued a “hold” rating on shares of TowneBank in a research report on Monday, August 27th. Finally, ValuEngine downgraded shares of TowneBank from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th.
NASDAQ:TOWN opened at $26.56 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 17.03 and a beta of 0.97. TowneBank has a 52 week low of $25.50 and a 52 week high of $33.90.
TowneBank (NASDAQ:TOWN) last posted its quarterly earnings data on Thursday, October 25th. The bank reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The firm had revenue of $137.91 million during the quarter, compared to analyst estimates of $138.83 million. TowneBank had a net margin of 19.03% and a return on equity of 9.94%. Equities analysts forecast that TowneBank will post 2.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 28th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, December 27th. TowneBank’s dividend payout ratio (DPR) is currently 41.03%.
Several institutional investors have recently bought and sold shares of TOWN. Principal Financial Group Inc. purchased a new position in TowneBank in the 1st quarter worth $290,000. Engineers Gate Manager LP purchased a new position in TowneBank in the 3rd quarter worth $302,000. WINTON GROUP Ltd raised its position in TowneBank by 24.6% in the 3rd quarter. WINTON GROUP Ltd now owns 11,503 shares of the bank’s stock worth $355,000 after purchasing an additional 2,271 shares during the period. Zebra Capital Management LLC bought a new stake in TowneBank in the 2nd quarter worth $487,000. Finally, Victory Capital Management Inc. grew its holdings in TowneBank by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 15,294 shares of the bank’s stock worth $491,000 after acquiring an additional 2,099 shares during the last quarter. Hedge funds and other institutional investors own 44.41% of the company’s stock.
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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