Tower Financial (TOFC) Releases Quarterly Earnings Results
Tower Financial (NASDAQ:TOFC) released its earnings data on Thursday. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.33 by $0.12, Analyst Ratings Network.com reports. During the same quarter last year, the company posted $0.32 earnings per share.
On a related note, analysts at Zacks upgraded shares of Tower Financial from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 16th. They now have a $24.40 price target on the stock.
Shares of Tower Financial (NASDAQ:TOFC) traded down 0.12% during mid-day trading on Thursday, hitting $24.31. The stock had a trading volume of 429 shares. Tower Financial has a 52 week low of $11.30 and a 52 week high of $23.24. The stock’s 50-day moving average is $16.1 and its 200-day moving average is $14.47. The company has a market cap of $113.6 million and a P/E ratio of 16.93.
Tower Financial Corporation is a bank holding company with one bank subsidiary, Tower Bank & Trust (NASDAQ:TOFC) and two unconsolidated subsidiary guarantor trusts, Tower Capital Trust 2, and Tower Capital Trust 3.
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