TowneBank (TOWN) Projected to Post Earnings on Wednesday

TowneBank (NASDAQ:TOWN - Get Free Report) will likely be posting its quarterly earnings results before the market opens on Wednesday, April 23rd. Analysts expect TowneBank to post earnings of $0.63 per share and revenue of $191.29 million for the quarter.

TowneBank (NASDAQ:TOWN - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. TowneBank had a return on equity of 7.77% and a net margin of 15.77%. On average, analysts expect TowneBank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TowneBank Price Performance

Shares of TOWN stock traded up $0.31 on Friday, hitting $31.80. The stock had a trading volume of 279,521 shares, compared to its average volume of 258,887. The company's 50 day moving average price is $34.19 and its 200-day moving average price is $34.61. TowneBank has a 1 year low of $25.70 and a 1 year high of $38.28. The firm has a market capitalization of $2.39 billion, a P/E ratio of 14.79 and a beta of 0.79.

TowneBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, March 31st. TowneBank's payout ratio is 46.51%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TOWN. Stephens reaffirmed an "equal weight" rating and set a $41.00 price objective on shares of TowneBank in a research report on Thursday, January 23rd. Hovde Group raised TowneBank from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $39.00 to $38.00 in a research report on Friday, April 4th.

About TowneBank

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.