TowneBank (TOWN) Stock Rating Reaffirmed by Brean Capital

TowneBank (NASDAQ:TOWN)‘s stock had its “hold” rating reaffirmed by research analysts at Brean Capital in a research note issued to investors on Monday.

Several other brokerages have also issued reports on TOWN. BidaskClub lowered TowneBank from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. Sandler O’Neill reiterated a “hold” rating and issued a $32.00 price target on shares of TowneBank in a research note on Tuesday, February 6th. Zacks Investment Research upgraded TowneBank from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $35.00 price target on shares of TowneBank in a research note on Friday, December 22nd. Finally, Piper Jaffray reiterated a “hold” rating and issued a $35.00 price target on shares of TowneBank in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $34.25.

How to Become a New Pot Stock Millionaire

TowneBank stock opened at $28.70 on Monday. TowneBank has a one year low of $27.85 and a one year high of $35.30. The firm has a market cap of $2,060.92, a price-to-earnings ratio of 18.40 and a beta of 1.00.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB bought a new position in shares of TowneBank in the 4th quarter valued at $206,000. SG Americas Securities LLC boosted its holdings in shares of TowneBank by 63.0% during the 3rd quarter. SG Americas Securities LLC now owns 7,644 shares of the bank’s stock valued at $256,000 after acquiring an additional 2,954 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of TowneBank by 14.0% during the 4th quarter. First Republic Investment Management Inc. now owns 16,289 shares of the bank’s stock valued at $501,000 after acquiring an additional 2,000 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of TowneBank during the 4th quarter valued at $622,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of TowneBank during the 4th quarter valued at $629,000. Institutional investors own 38.72% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “TowneBank (TOWN) Stock Rating Reaffirmed by Brean Capital” was first posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.thelincolnianonline.com/2018/04/18/townebank-town-stock-rating-reaffirmed-by-brean-capital.html.

About TowneBank

TowneBank provides retail and commercial banking services for small- and medium-size businesses, professionals, and individuals. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including demand deposits, negotiable order of withdrawal accounts, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.

Receive News & Ratings for TowneBank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TowneBank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply