TowneBank (TOWN) Projected to Post Earnings on Wednesday

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

TowneBank (NASDAQ:TOWN) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. TowneBank had a return on equity of 7.32% and a net margin of 14.89%. The company had revenue of $258.86 million for the quarter, compared to analyst estimates of $179.80 million. During the same period in the previous year, the company 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 0.8 %

Shares of TOWN stock opened at $34.29 on Monday. The firm’s fifty day moving average price is $35.17 and its two-hundred day moving average price is $33.58. TowneBank has a 1 year low of $25.70 and a 1 year high of $38.28. The firm has a market capitalization of $2.57 billion, a P/E ratio of 17.23 and a beta of 0.93.

TowneBank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Tuesday, December 31st. TowneBank’s dividend payout ratio is currently 50.25%.

Wall Street Analysts Forecast Growth

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

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.