TowneBank (TOWN) to Release Earnings on Wednesday

TowneBank (NASDAQ:TOWN) is expected to post its quarterly earnings results before the market opens on Wednesday, April 23rd. Analysts expect TowneBank to post earnings of $0.63 per share and revenue of $191.29 million for the quarter.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.48 by $0.07. TowneBank had a net margin of 15.77% and a return on equity of 7.77%. On average, analysts expect TowneBank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TowneBank Price Performance

Shares of TOWN stock opened at $31.80 on Monday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 14.79 and a beta of 0.79. The company’s fifty day simple moving average is $34.19 and its two-hundred day simple moving average is $34.64. TowneBank has a 1 year low of $25.70 and a 1 year high of $38.28.

TowneBank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.14%. TowneBank’s payout ratio is 46.51%.

Analysts Set New Price Targets

TOWN has been the subject of a number of recent analyst reports. Stephens reaffirmed an “equal weight” rating and set a $41.00 target price on shares of TowneBank in a report on Thursday, January 23rd. Hovde Group raised shares of TowneBank from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $39.00 to $38.00 in a research note on Friday, April 4th.

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.