Investment Analysts’ Recent Ratings Updates for TowneBank (TOWN)

TowneBank (NASDAQ: TOWN) has recently received a number of price target changes and ratings updates:

  • 1/4/2018 – TowneBank was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/2/2018 – TowneBank had its “hold” rating reaffirmed by analysts at Brean Capital.
  • 12/28/2017 – TowneBank was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Headquartered in Portsmouth, Virginia, TowneBank is now Virginia’s top community bank operating eighteen banking offices in Chesapeake, Hampton, Portsmouth, Newport News, Virginia Beach, Norfolk, Williamsburg and York County. Towne also offers a full range of financial services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Insurance Agency, TFA Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage and GSH Real Estate Corporation. Local decision-making is a hallmark of its hometown banking strategy that is delivered through the leadership of each group’s President and Board of Directors. “
  • 12/22/2017 – TowneBank had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $35.00 price target on the stock.
  • 12/12/2017 – TowneBank was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/1/2017 – TowneBank is now covered by analysts at Brean Capital. They set a “hold” rating on the stock.

TowneBank (NASDAQ TOWN) traded up $0.05 during mid-day trading on Thursday, reaching $30.60. 233,400 shares of the company’s stock traded hands, compared to its average volume of 226,150. 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 has a 52-week low of $28.55 and a 52-week high of $35.30. The company has a market cap of $1,913.68, a price-to-earnings ratio of 20.13 and a beta of 0.98.

TowneBank (NASDAQ:TOWN) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). TowneBank had a net margin of 19.55% and a return on equity of 8.49%. The company had revenue of $115.34 million during the quarter, compared to analyst estimates of $118.96 million. equities research analysts forecast that TowneBank will post 1.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.14 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.56 annualized dividend and a dividend yield of 1.83%. TowneBank’s dividend payout ratio is currently 36.84%.

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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