TowneBank (NASDAQ:TOWN - Get Free Report) announced its earnings results on Wednesday. The bank reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.07, Zacks reports. TowneBank had a return on equity of 7.32% and a net margin of 14.89%.
TowneBank Price Performance
Shares of TOWN stock traded down $0.18 during trading hours on Wednesday, reaching $34.33. 194,299 shares of the stock were exchanged, compared to its average volume of 218,272. TowneBank has a 12-month low of $25.70 and a 12-month high of $38.28. The business's fifty day moving average is $35.11 and its two-hundred day moving average is $33.69. The firm has a market capitalization of $2.57 billion, a P/E ratio of 17.25 and a beta of 0.93.
TowneBank Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Tuesday, December 31st. TowneBank's dividend payout ratio is presently 50.25%.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods raised shares of TowneBank from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $35.00 to $40.00 in a research note on Wednesday, October 2nd.
View Our Latest Stock Analysis on TowneBank
About TowneBank
(
Get Free Report)
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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