TowneBank (TOWN) Expected to Announce Quarterly Earnings on Wednesday

TowneBank (NASDAQ:TOWN - Get Free Report) is expected to post its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.48 per share and revenue of $178,690.00 billion for the quarter.

TowneBank (NASDAQ:TOWN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The firm had revenue of $258.86 million for the quarter, compared to the consensus estimate of $179.80 million. TowneBank had a return on equity of 7.32% and a net margin of 14.89%. During the same quarter last year, the business posted $0.60 earnings per share. On average, analysts expect TowneBank to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TowneBank Trading Up 2.0 %

NASDAQ:TOWN traded up $0.67 during trading hours on Wednesday, hitting $34.14. The company had a trading volume of 182,035 shares, compared to its average volume of 231,926. TowneBank has a 1 year low of $25.70 and a 1 year high of $38.28. The company has a market cap of $2.56 billion, a P/E ratio of 17.16 and a beta of 0.93. The company has a 50-day moving average of $35.26 and a 200 day moving average of $33.44.

TowneBank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Tuesday, December 31st. TowneBank's dividend payout ratio is currently 50.25%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised shares of TowneBank from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $35.00 to $40.00 in a research note on Wednesday, October 2nd.

TowneBank Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.