TowneBank (TOWN) Projected to Post Quarterly Earnings on Wednesday

TowneBank (NASDAQ:TOWN) is anticipated to post its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect TowneBank to post earnings of $0.48 per share and revenue of $178,690.00 billion for the quarter.

TowneBank (NASDAQ:TOWN) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. TowneBank had a net margin of 14.89% and a return on equity of 7.32%. The firm had revenue of $258.86 million for the quarter, compared to the consensus estimate of $179.80 million. During the same period in the prior year, the firm earned $0.60 EPS. On average, analysts expect TowneBank to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TowneBank Stock Up 2.0 %

TOWN stock traded up $0.67 during midday trading on Wednesday, hitting $34.14. The company’s stock had a trading volume of 182,035 shares, compared to its average volume of 231,926. The firm has a 50-day simple moving average of $35.26 and a 200-day simple moving average of $33.44. The firm has a market capitalization of $2.56 billion, a P/E ratio of 17.16 and a beta of 0.93. TowneBank has a 52-week low of $25.70 and a 52-week high of $38.28.

TowneBank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Tuesday, December 31st. TowneBank’s payout ratio is currently 50.25%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded TowneBank from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $35.00 to $40.00 in a report on Wednesday, October 2nd.

TowneBank Company Profile

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.