Towne Bank (NASDAQ:TOWN) Downgraded to “Strong Sell” Rating by Zacks Research

Posted by Brian Himes on May 6th, 2026

Zacks Research lowered shares of Towne Bank (NASDAQ:TOWN – Free Report) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

Several other research firms also recently commented on TOWN. Hovde Group reduced their price objective on Towne Bank from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Towne Bank in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.00.

Get Our Latest Report on TOWN

Towne Bank Trading Up 1.2%

TOWN opened at $34.97 on Monday. The stock’s fifty day moving average is $34.35 and its two-hundred day moving average is $34.40. The company has a market capitalization of $2.76 billion, a P/E ratio of 17.66 and a beta of 0.72. Towne Bank has a 52 week low of $31.91 and a 52 week high of $37.86. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.02.

Towne Bank (NASDAQ:TOWN – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $247.62 million for the quarter, compared to the consensus estimate of $274.02 million. Towne Bank had a return on equity of 10.48% and a net margin of 13.51%.Towne Bank’s quarterly revenue was up 34.6% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Analysts forecast that Towne Bank will post 3.15 earnings per share for the current year.

Towne Bank Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th will be issued a $0.70 dividend. The ex-dividend date is Monday, May 4th. Towne Bank’s dividend payout ratio (DPR) is currently 54.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TOWN. AQR Capital Management LLC increased its holdings in shares of Towne Bank by 32.3% in the 1st quarter. AQR Capital Management LLC now owns 34,996 shares of the bank’s stock valued at $1,197,000 after acquiring an additional 8,538 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Towne Bank by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,837 shares of the bank’s stock valued at $1,430,000 after acquiring an additional 1,837 shares during the period. Millennium Management LLC boosted its position in shares of Towne Bank by 56.6% in the 1st quarter. Millennium Management LLC now owns 381,761 shares of the bank’s stock worth $13,052,000 after purchasing an additional 137,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Towne Bank by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,713 shares of the bank’s stock worth $5,392,000 after purchasing an additional 7,115 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Towne Bank by 1,220.9% in the 1st quarter. Jane Street Group LLC now owns 157,411 shares of the bank’s stock worth $5,382,000 after purchasing an additional 145,494 shares in the last quarter. 55.99% of the stock is currently owned by hedge funds and other institutional investors.

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.