Towne Bank (TOWN) to Release Quarterly Earnings on Wednesday
Towne Bank (NASDAQ:TOWN) is scheduled to release its earnings data on Wednesday, July 26th. Analysts expect Towne Bank to post earnings of $0.40 per share for the quarter.
Towne Bank (NASDAQ:TOWN) last issued its quarterly earnings results on Thursday, April 27th. The bank reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.02. Towne Bank had a return on equity of 7.79% and a net margin of 16.31%. The business had revenue of $105.17 million for the quarter, compared to analysts’ expectations of $107.55 million. On average, analysts expect Towne Bank to post $1.57 EPS for the current fiscal year and $1.95 EPS for the next fiscal year.
Towne Bank (NASDAQ:TOWN) opened at 30.05 on Wednesday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 25.25 and a beta of 0.97. Towne Bank has a 52 week low of $22.48 and a 52 week high of $34.55. The firm’s 50 day moving average price is $30.09 and its 200-day moving average price is $31.85.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.86%. This is a boost from Towne Bank’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, June 28th. Towne Bank’s payout ratio is presently 47.86%.
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TOWN has been the topic of several research analyst reports. BidaskClub cut shares of Towne Bank from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Piper Jaffray Companies initiated coverage on shares of Towne Bank in a research report on Friday, March 31st. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Towne Bank from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Towne Bank presently has an average rating of “Hold” and an average target price of $29.67.
Towne Bank 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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