TowneBank (TOWN) Expected to Announce Quarterly Earnings on Wednesday

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

TowneBank (NASDAQ:TOWN) last announced 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 firm had revenue of $258.86 million for the quarter, compared to the consensus estimate of $179.80 million. TowneBank had a return on equity of 7.32% and a net margin of 14.89%. During the same quarter last year, the business 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 2.0 %

NASDAQ:TOWN traded up $0.67 during trading hours on Wednesday, hitting $34.14. The company had a trading volume of 182,035 shares, compared to its average volume of 231,926. TowneBank has a 1 year low of $25.70 and a 1 year high of $38.28. The company has a market cap of $2.56 billion, a P/E ratio of 17.16 and a beta of 0.93. The company has a 50-day moving average of $35.26 and a 200 day moving average of $33.44.

TowneBank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Tuesday, December 31st. TowneBank’s dividend payout ratio is currently 50.25%.

Analyst Upgrades and Downgrades

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

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.