TOWN has been the subject of several other reports. BidaskClub cut shares of TowneBank from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Brean Capital reissued a “hold” rating on shares of TowneBank in a research note on Friday, January 25th. Finally, Zacks Investment Research cut shares of TowneBank from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $34.00.
Shares of TOWN traded up $0.54 during mid-day trading on Friday, hitting $26.29. 61,807 shares of the company’s stock were exchanged, compared to its average volume of 104,866. TowneBank has a 52 week low of $22.88 and a 52 week high of $33.85. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.90 billion, a P/E ratio of 13.28 and a beta of 1.12.
TowneBank (NASDAQ:TOWN) last released its earnings results on Thursday, April 25th. The bank reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). TowneBank had a net margin of 22.24% and a return on equity of 9.31%. The firm had revenue of $133.85 million during the quarter, compared to the consensus estimate of $138.13 million. On average, sell-side analysts anticipate that TowneBank will post 1.94 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in TOWN. Zebra Capital Management LLC lifted its holdings in TowneBank by 10.2% during the 1st quarter. Zebra Capital Management LLC now owns 27,865 shares of the bank’s stock valued at $690,000 after purchasing an additional 2,582 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in TowneBank during the 1st quarter valued at $1,291,000. SEI Investments Co acquired a new stake in TowneBank during the 1st quarter valued at $101,000. Goldman Sachs Group Inc. lifted its holdings in TowneBank by 3.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,843 shares of the bank’s stock valued at $28,013,000 after purchasing an additional 34,635 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in TowneBank during the 1st quarter valued at $208,000. 45.99% of the stock is owned by institutional investors and hedge funds.
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, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts, and negotiable order of withdrawal accounts.
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