Analysts’ Recent Ratings Updates for TowneBank (TOWN)

Several brokerages have updated their recommendations and price targets on shares of TowneBank (NASDAQ: TOWN) in the last few weeks:

  • 2/6/2018 – TowneBank had its “hold” rating reaffirmed by analysts at Sandler O’Neill. They now have a $32.00 price target on the stock.
  • 2/5/2018 – TowneBank had its “hold” rating reaffirmed by analysts at Brean Capital.
  • 1/31/2018 – TowneBank was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $35.00 price target on the stock. 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. “
  • 1/29/2018 – TowneBank had its “hold” rating reaffirmed by analysts at Brean Capital.
  • 1/26/2018 – TowneBank was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/9/2018 – TowneBank had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $35.00 price target on the stock.
  • 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.

TowneBank (TOWN) traded down $0.10 during trading hours on Wednesday, hitting $28.70. The company had a trading volume of 120,600 shares, compared to its average volume of 214,071. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.02. TowneBank has a 12 month low of $28.35 and a 12 month high of $35.30. The company has a market cap of $2,075.33, a price-to-earnings ratio of 20.35 and a beta of 0.98.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. TowneBank had a return on equity of 8.73% and a net margin of 17.77%. The company had revenue of $109.14 million for the quarter, compared to analyst estimates of $108.16 million. sell-side analysts predict that TowneBank will post 1.98 EPS for the current fiscal year.

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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