Piper Jaffray Companies restated their hold rating on shares of TowneBank (NASDAQ:TOWN) in a research report report published on Tuesday morning. They currently have a $35.00 target price on the bank’s stock.
Other analysts also recently issued reports about the stock. Brean Capital restated a hold rating on shares of TowneBank in a report on Tuesday, January 2nd. Zacks Investment Research raised shares of TowneBank from a sell rating to a hold rating in a research note on Thursday, December 28th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $35.00 price target on shares of TowneBank in a research note on Friday, December 22nd. Finally, BidaskClub cut shares of TowneBank from a buy rating to a hold rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $34.67.
Shares of TowneBank (NASDAQ:TOWN) opened at $32.45 on Tuesday. TowneBank has a fifty-two week low of $28.55 and a fifty-two week high of $35.30. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2,020.00, a PE ratio of 21.49 and a beta of 0.98.
TowneBank (NASDAQ:TOWN) last posted its earnings results on Thursday, October 26th. The bank reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). TowneBank had a return on equity of 8.49% and a net margin of 19.55%. The business had revenue of $115.34 million during the quarter, compared to the consensus estimate of $118.96 million. research analysts anticipate that TowneBank will post 1.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%. TowneBank’s dividend payout ratio is presently 37.09%.
Several hedge funds have recently added to or reduced their stakes in the stock. Aldebaran Financial Inc. boosted its stake in shares of TowneBank by 0.4% during the 2nd quarter. Aldebaran Financial Inc. now owns 9,073 shares of the bank’s stock worth $279,000 after purchasing an additional 38 shares during the period. Amalgamated Bank boosted its stake in shares of TowneBank by 1.6% during the 2nd quarter. Amalgamated Bank now owns 7,135 shares of the bank’s stock worth $220,000 after purchasing an additional 114 shares during the period. Legal & General Group Plc boosted its stake in shares of TowneBank by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 19,101 shares of the bank’s stock worth $589,000 after purchasing an additional 240 shares during the period. Prudential Financial Inc. boosted its stake in shares of TowneBank by 5.7% during the 2nd quarter. Prudential Financial Inc. now owns 7,225 shares of the bank’s stock worth $223,000 after purchasing an additional 390 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of TowneBank by 3.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 28,610 shares of the bank’s stock worth $881,000 after purchasing an additional 943 shares during the period. 44.28% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This news story was first posted by Stock Observer and is the property of of Stock Observer. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://www.thestockobserver.com/2018/01/13/townebank-town-given-hold-rating-at-piper-jaffray-companies.html.
TowneBank Company Profile
TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.
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.