TowneBank (NASDAQ:TOWN – Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02, Briefing.com reports. TowneBank had a return on equity of 7.56% and a net margin of 15.33%. During the same quarter last year, the firm posted $0.60 earnings per share.
TowneBank Stock Down 3.1 %
Shares of TowneBank stock opened at $32.90 on Friday. The stock’s fifty day moving average is $33.64 and its 200-day moving average is $30.12. The firm has a market capitalization of $2.47 billion, a PE ratio of 16.37 and a beta of 0.89. TowneBank has a 12-month low of $21.66 and a 12-month high of $35.74.
TowneBank Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Monday, September 30th. TowneBank’s dividend payout ratio (DPR) is presently 49.75%.
Wall Street Analysts Forecast Growth
View Our Latest Report on TOWN
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.
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