TowneBank (TOWN) Stock Price, News & Analysis

Company Overview

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. The company also offers secured and unsecured personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; and mortgage loans, as well as real estate acquisition, development, and construction loans. In addition, it provides other services, such as safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as online, mobile, and on-call banking services. Further, the company offers documentation services to accomplish tax deferral to investors; investment and asset management services; commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options comprising alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans. Additionally, it provides residential real estate, relocation, property management, vacation rentals, and title and settlement services; and originates residential mortgage loans. The company also offers life, property, casualty, and vehicle insurance services; and employee benefit programs, such as health, dental, vision, and disability insurance. It operates in Richmond, Virginia, the Greater Hampton Roads region in southeastern Virginia, northeastern North Carolina, Raleigh, Charlotte, Greensboro, and Greenville, North Carolina. TowneBank was incorporated in 1998 and is based in Portsmouth, Virginia.

Key Stats

• Today's Range: $34.52 to $35.40
• 50-Day Range: $31.98 to $36.29
• 52-Week Range: $25.70 to $36.67
• Volume: 345,349 shs
• Average Volume: 286,599 shs
• Market Capitalization: $2.62 billion
• P/E Ratio: 17.54
• Dividend Yield: 2.86%
• Price Target: $36.00
• Consensus Rating: Buy

TowneBank Stock Analysis - MarketRank™

TowneBank scored higher than 67% of companies evaluated by MarketBeat, and ranked 490th out of 930 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.5 / 5
• Analyst Rating: Buy

Consensus Rating

TowneBank has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

TowneBank has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 22.22%

Earnings Growth

Earnings for TowneBank are expected to grow by 22.22% in the coming year, from $2.07 to $2.53 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of TowneBank is 17.54, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 134.38.

Price to Earnings Ratio vs. Sector

The P/E ratio of TowneBank is 17.54, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 49.29.

Price to Book Value per Share Ratio

TowneBank has a P/B Ratio of 1.24. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.82% of the float of TowneBank has been sold short.

Short Interest Ratio / Days to Cover

TowneBank has a short interest ratio ("days to cover") of 2.5, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in TowneBank has recently increased by 4.61%, indicating that investor sentiment is decreasing.

Dividend

• Score: 4.2 / 5
• Dividend Strength: Strong

Dividend Yield

TowneBank pays a meaningful dividend of 2.84%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

TowneBank has been increasing its dividend for 12 years.

Dividend Coverage

The dividend payout ratio of TowneBank is 50.25%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, TowneBank will have a dividend payout ratio of 39.53% next year. This indicates that TowneBank will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.82% of the float of TowneBank has been sold short.

Short Interest Ratio / Days to Cover

TowneBank has a short interest ratio ("days to cover") of 2.5, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in TowneBank has recently increased by 4.61%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.1 / 5
• News Sentiment: 0.86

News Sentiment

TowneBank has a news sentiment score of 0.86. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for TowneBank this week, compared to 2 articles on an average week.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, TowneBank insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 8.14% of the stock of TowneBank is held by insiders.

Percentage Held by Institutions

55.99% of the stock of TowneBank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

TOWN Stock Analysis - Frequently Asked Questions

How have TOWN shares performed this year?

TowneBank's stock was trading at $29.76 at the beginning of the year. Since then, TOWN shares have increased by 17.3% and is now trading at $34.91.
View the best growth stocks for 2024 here.

How were TowneBank's earnings last quarter?

TowneBank (NASDAQ:TOWN) posted 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 bank earned $258.86 million during the quarter, compared to analyst estimates of $179.80 million. TowneBank had a trailing twelve-month return on equity of 7.41% and a net margin of 14.89%.

Who are TowneBank's major shareholders?

TowneBank's top institutional investors include State Street Corp (2.66%), Victory Capital Management Inc. (2.63%), Geode Capital Management LLC (2.25%) and Charles Schwab Investment Management Inc. (1.12%).

How do I buy shares of TowneBank?

Shares of TOWN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of TowneBank own?

Based on aggregate information from My MarketBeat watchlists, some other companies that TowneBank investors own include Humana (HUM), American Water Works (AWK), Voyager Therapeutics (VYGR), Waste Connections (WCN), The RMR Group (RMR), TotalEnergies (TTE) and Southern First Bancshares (SFST).

Company Calendar

• Ex-Dividend for 10/11 Dividend: 9/30/2024
• Dividend Payable: 10/11/2024
• Last Earnings: 10/23/2024
• Today: 11/21/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/22/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Regional Banks
• Current Symbol: NASDAQ:TOWN
• CUSIP: 89214P10
• CIK: N/A
• Web: www.townebank.com
• Phone: (757) 638-7500
• Fax: 215-832-1055
• Employees: 2,784
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $36.00
• High Stock Price Target: $40.00
• Low Stock Price Target: $32.00
• Potential Upside/Downside: +3.1%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.99
• Trailing P/E Ratio: 17.54
• Forward P/E Ratio: 16.86
• P/E Growth: N/A
• Net Income: $153.71 million
• Net Margins: 14.89%
• Pretax Margin: 18.14%
• Return on Equity: 7.41%
• Return on Assets: 0.91%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 0.88
• Quick Ratio: 0.87

Sales & Book Value

• Annual Sales: $941.58 million
• Price / Sales: 2.78
• Cash Flow: $2.76 per share
• Price / Cash Flow: 12.63
• Book Value: $28.26 per share
• Price / Book: 1.24

Miscellaneous

• Outstanding Shares: 75,000,000
• Free Float: 68,896,000
• Market Cap: $2.62 billion
• Optionable: Optionable
• Beta: 0.89