TowneBank (NASDAQ:TOWN - Get Free Report) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.25 per share by the bank on Friday, April 11th. This represents a $1.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Monday, March 31st.
TowneBank has increased its dividend by an average of 8.6% per year over the last three years and has raised its dividend every year for the last 13 years. TowneBank has a payout ratio of 30.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TowneBank to earn $3.35 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 29.9%.
TowneBank Stock Up 1.5 %
NASDAQ TOWN traded up $0.54 during trading hours on Friday, hitting $36.88. 284,785 shares of the company were exchanged, compared to its average volume of 218,977. The company has a 50 day moving average of $35.23 and a two-hundred day moving average of $34.69. TowneBank has a 52-week low of $25.70 and a 52-week high of $38.28. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 17.15 and a beta of 0.93.
TowneBank (NASDAQ:TOWN - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. TowneBank had a return on equity of 7.77% and a net margin of 15.77%. On average, equities research analysts predict that TowneBank will post 2.6 EPS for the current year.
Analyst Upgrades and Downgrades
Separately, Stephens restated an "equal weight" rating and set a $41.00 price target on shares of TowneBank in a report on Thursday, January 23rd.
Get Our Latest Report on TOWN
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.
Read More
Before you consider TowneBank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TowneBank wasn't on the list.
While TowneBank currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
