TowneBank (NASDAQ:TOWN) Receives $28.75 Consensus PT from Analysts

Shares of TowneBank (NASDAQ:TOWN) have received a consensus recommendation of “Hold” from the four research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $28.75.

Several research analysts recently commented on the stock. Raymond James boosted their price objective on shares of TowneBank from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. StockNews.com downgraded shares of TowneBank from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th.

Institutional Trading of TowneBank

Large investors have recently made changes to their positions in the business. Comerica Bank purchased a new stake in shares of TowneBank in the 3rd quarter valued at $27,000. TFO Wealth Partners LLC boosted its holdings in TowneBank by 43,600.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,311 shares of the bank’s stock worth $39,000 after buying an additional 1,308 shares in the last quarter. EMC Capital Management boosted its holdings in TowneBank by 72.6% during the third quarter. EMC Capital Management now owns 1,726 shares of the bank’s stock worth $40,000 after buying an additional 726 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in TowneBank by 230.4% during the first quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the bank’s stock worth $49,000 after buying an additional 1,281 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in TowneBank during the fourth quarter worth $79,000. 55.99% of the stock is owned by hedge funds and other institutional investors.

TowneBank Trading Up 1.0 %

NASDAQ:TOWN opened at $28.06 on Friday. TowneBank has a one year low of $21.22 and a one year high of $31.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market cap of $2.04 billion, a P/E ratio of 13.56 and a beta of 0.88. The firm has a 50-day simple moving average of $27.51 and a 200-day simple moving average of $26.55.

TowneBank (NASDAQ:TOWN) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.42 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.05). TowneBank had a net margin of 16.33% and a return on equity of 8.03%. The business had revenue of $155.55 million during the quarter, compared to the consensus estimate of $164.67 million. The business’s quarterly revenue was down 11.3% on a year-over-year basis. Equities analysts anticipate that TowneBank will post 2.14 EPS for the current fiscal year.

TowneBank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, March 27th. TowneBank’s dividend payout ratio (DPR) is currently 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.