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 released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The company 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 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 0.8 %

TOWN opened at $34.29 on Tuesday. The firm has a market cap of $2.57 billion, a P/E ratio of 17.23 and a beta of 0.93. TowneBank has a 12 month low of $25.70 and a 12 month high of $38.28. The stock has a 50-day moving average of $35.13 and a 200 day moving average of $33.63.

TowneBank Dividend Announcement

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

Analyst Ratings Changes

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