Investment analysts at Stephens assumed coverage on shares of TowneBank (NASDAQ:TOWN – Get Free Report) in a research report issued on Tuesday, September 12th, Marketbeat reports. The firm set an “equal weight” rating on the bank’s stock.
Several other equities research analysts also recently commented on the company. StockNews.com initiated coverage on TowneBank in a report on Thursday, August 17th. They issued a “sell” rating for the company. Hovde Group began coverage on shares of TowneBank in a report on Friday, August 11th. They set a “market perform” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, TowneBank has a consensus rating of “Hold” and an average target price of $27.75.
TowneBank Stock Up 1.2 %
TowneBank (NASDAQ:TOWN – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.05). The business had revenue of $242.82 million during the quarter, compared to the consensus estimate of $180.38 million. TowneBank had a net margin of 20.61% and a return on equity of 9.48%. As a group, sell-side analysts expect that TowneBank will post 2.13 earnings per share for the current fiscal year.
Institutional Trading of TowneBank
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in shares of TowneBank by 80.0% in the 2nd quarter. Signaturefd LLC now owns 1,521 shares of the bank’s stock worth $35,000 after purchasing an additional 676 shares in the last quarter. Tower Research Capital LLC TRC increased its position in TowneBank by 230.4% in the first quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the bank’s stock worth $49,000 after buying an additional 1,281 shares in the last quarter. EMC Capital Management bought a new position in shares of TowneBank in the fourth quarter worth about $53,000. Allspring Global Investments Holdings LLC lifted its position in shares of TowneBank by 36.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,920 shares of the bank’s stock valued at $78,000 after buying an additional 777 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of TowneBank during the 1st quarter valued at approximately $106,000. 54.03% of the stock is owned by hedge funds and other institutional investors.
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.
- Five stocks we like better than TowneBank
- Space Investment: How to Invest in Space Exploration
- Hold-It-Forever AutoZone Pulls into Buy Zone
- Are Stock Buybacks Good for the Average Investor?
- Virtual Riches: 3 Stocks Leading the VR Revolution
- What Investors Need to Know to Beat the Market
- 5 eCommerce Companies that need to be on Your Watch List
Receive News & Ratings for TowneBank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TowneBank and related companies with MarketBeat.com's FREE daily email newsletter.