TowneBank (NASDAQ:TOWN – Get Free Report) has been assigned an average recommendation of “Hold” from the four analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $28.75.
TOWN has been the topic of a number of recent research reports. StockNews.com cut shares of TowneBank from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Raymond James boosted their price objective on TowneBank from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, January 5th.
Check Out Our Latest Stock Report on TowneBank
Institutional Inflows and Outflows
TowneBank Price Performance
TowneBank stock opened at $27.77 on Friday. The business’s 50 day simple moving average is $27.53 and its 200 day simple moving average is $26.50. TowneBank has a 12 month low of $21.22 and a 12 month high of $31.08. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 13.42 and a beta of 0.88. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.10.
TowneBank (NASDAQ:TOWN – Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). TowneBank had a net margin of 16.33% and a return on equity of 8.03%. The firm had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $164.67 million. The firm’s revenue was down 11.3% on a year-over-year basis. Sell-side analysts forecast that TowneBank will post 2.14 EPS for the current year.
TowneBank Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.60%. TowneBank’s dividend payout ratio (DPR) is presently 48.31%.
About TowneBank
TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.
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