TowneBank (TOWN) Projected to Post Quarterly Earnings on Wednesday

TowneBank (NASDAQ:TOWN) is expected to release its earnings data 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) last posted 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 net margin of 15.77% and a return on equity of 7.77%. On average, analysts expect TowneBank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TowneBank Trading Up 1.1 %

Shares of NASDAQ TOWN opened at $31.41 on Wednesday. The stock has a market cap of $2.36 billion, a PE ratio of 14.61 and a beta of 0.79. TowneBank has a 12-month low of $25.70 and a 12-month high of $38.28. The company has a 50-day moving average of $34.50 and a 200 day moving average of $34.65.

TowneBank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Monday, March 31st. TowneBank’s dividend payout ratio (DPR) is currently 46.51%.

Analyst Ratings Changes

A number of research analysts have commented on TOWN shares. Stephens reaffirmed an “equal weight” rating and issued a $41.00 target price on shares of TowneBank in a research report on Thursday, January 23rd. Hovde Group upgraded shares of TowneBank from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $39.00 to $38.00 in a research note on Friday, April 4th.

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.