TowneBank (TOWN) Projected to Post Quarterly Earnings on Wednesday

TowneBank (NASDAQ:TOWN) is projected to announce its 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 issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $258.86 million during the quarter, compared to analyst estimates of $179.80 million. TowneBank had a return on equity of 7.32% and a net margin of 14.89%. During the same quarter in the prior year, the business posted $0.60 EPS. On average, analysts expect TowneBank to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TowneBank Stock Up 0.8 %

Shares of TowneBank stock opened at $34.29 on Tuesday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 17.23 and a beta of 0.93. The business has a 50-day moving average price of $35.13 and a 200-day moving average price of $33.63. TowneBank has a twelve month low of $25.70 and a twelve month high of $38.28.

TowneBank Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded TowneBank from a “market perform” rating to an “outperform” rating and raised their price objective for the company 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.