Zacks Research Upgrades Towne Bank (NASDAQ:TOWN) to “Hold”

Posted by Stanley Muller on Jul 1st, 2026

Towne Bank (NASDAQ:TOWN – Get Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on TOWN. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $38.00 price objective (down from $42.00) on shares of Towne Bank in a research report on Wednesday, May 6th. Weiss Ratings cut Towne Bank from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Finally, Hovde Group cut their target price on shares of Towne Bank from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Get Our Latest Report on TOWN

Towne Bank Trading Down 0.1%

Shares of TOWN opened at $36.24 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $34.85 and a 200-day simple moving average of $34.79. Towne Bank has a 1-year low of $31.91 and a 1-year high of $37.86. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 18.30 and a beta of 0.70.

Towne Bank (NASDAQ:TOWN – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $247.62 million during the quarter, compared to the consensus estimate of $274.02 million. Towne Bank had a return on equity of 9.91% and a net margin of 13.51%.The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Equities analysts forecast that Towne Bank will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Towne Bank

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Towne Bank by 32.5% in the 1st quarter. Bank of America Corp DE now owns 511,823 shares of the bank’s stock valued at $17,233,000 after purchasing an additional 125,670 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Towne Bank by 12.8% during the 1st quarter. Edgestream Partners L.P. now owns 27,231 shares of the bank’s stock worth $917,000 after buying an additional 3,092 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Towne Bank by 86.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,314,373 shares of the bank’s stock worth $44,255,000 after buying an additional 607,768 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Towne Bank in the 1st quarter worth $430,000. Finally, Amundi acquired a new position in Towne Bank in the first quarter valued at $452,000. Hedge funds and other institutional investors own 55.99% of the company’s stock.

Towne Bank Company Profile

(Get Free Report)

TowneBank is a Virginia‐based financial services company organized as a bank holding company. Its primary subsidiary, TowneBank, operates a network of community banking offices and mortgage production facilities. The company offers a comprehensive range of commercial and consumer banking solutions, including deposit accounts, lending products, treasury management, and private banking services tailored to individuals, small businesses, and middle‐market corporations.

In addition to traditional banking, TowneBank provides specialty services through affiliated subsidiaries.