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NASDAQ:TOWN

TowneBank (TOWN) Stock Price, News & Analysis

$27.30
-0.20 (-0.73%)
(As of 01:19 PM ET)
Today's Range
$27.12
$27.53
50-Day Range
$26.68
$30.85
52-Week Range
$21.22
$31.08
Volume
58,299 shs
Average Volume
219,151 shs
Market Capitalization
$1.99 billion
P/E Ratio
13.19
Dividend Yield
3.66%
Price Target
$28.75

TowneBank MarketRank™ Stock Analysis

Analyst Rating
Hold
2.25 Rating Score
Upside/​Downside
5.3% Upside
$28.75 Price Target
Short Interest
Healthy
0.96% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.64mentions of TowneBank in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
20.56%
From $2.14 to $2.58 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.66 out of 5 stars

Finance Sector

394th out of 852 stocks

State Commercial Banks Industry

92nd out of 177 stocks


TOWN stock logo

About TowneBank Stock (NASDAQ:TOWN)

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. The company also offers secured and unsecured personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion, and equipment and machinery purchases; and mortgage loans, as well as real estate acquisition, development, and construction loans. In addition, it provides other services, such as safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as online, mobile, and on-call banking services. Further, the company offers documentation services to accomplish tax deferral to investors; investment and asset management services; commercial mortgage brokerage services; and other financial services, such as financial, retirement, and estate planning services, as well as assistance on various investment options comprising alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans. Additionally, it provides residential real estate, relocation, property management, vacation rentals, and title and settlement services; and originates residential mortgage loans. The company also offers life, property, casualty, and vehicle insurance services; and employee benefit programs, such as health, dental, vision, and disability insurance. It operates in Richmond, Virginia, the Greater Hampton Roads region in southeastern Virginia, northeastern North Carolina, Raleigh, Charlotte, Greensboro, and Greenville, North Carolina. TowneBank was incorporated in 1998 and is based in Portsmouth, Virginia.

TOWN Stock Price History

TOWN Stock News Headlines

TOWN Jun 2024 22.500 put
TOWN Sep 2024 25.000 call
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Most financial experts recommend including gold in your investment mix to protect against rising prices and keep wealth secure. Investors are discovering a little-known way to benefit from gold, which offers the chance to gain from higher gold prices and mining successes while avoiding the costs of operating mines.
Piper Sandler Reaffirms Their Buy Rating on TowneBank (TOWN)
An Unusual Way to Invest in Gold
Most financial experts recommend including gold in your investment mix to protect against rising prices and keep wealth secure. Investors are discovering a little-known way to benefit from gold, which offers the chance to gain from higher gold prices and mining successes while avoiding the costs of operating mines.
Norfolk Festevents announces 2024 season
What N.C. bankers are watching for in 2024
What Triangle bankers are watching for in 2024
TowneBank declares $0.25 dividend
See More Headlines
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Company Calendar

Ex-Dividend for 1/12 Dividend
12/28/2023
Dividend Payable
1/12/2024
Last Earnings
1/24/2024
Today
2/21/2024
Next Earnings (Estimated)
4/25/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
State commercial banks
Sub-Industry
Regional Banks
Current Symbol
NASDAQ:TOWN
CUSIP
89214P10
CIK
N/A
Employees
2,766
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$28.75
High Stock Price Target
$32.00
Low Stock Price Target
$27.00
Potential Upside/Downside
+5.2%
Consensus Rating
Hold
Rating Score (0-4)
2.25
Research Coverage
4 Analysts

Profitability

Net Income
$153.71 million
Pretax Margin
23.47%

Debt

Sales & Book Value

Annual Sales
$941.58 million
Cash Flow
$3.14 per share
Book Value
$25.96 per share

Miscellaneous

Free Float
66,824,000
Market Cap
$1.99 billion
Optionable
Optionable
Beta
0.90
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Key Executives

  • Mr. G. Robert Aston Jr. (Age 79)
    Executive Chairman
    Comp: $1.41M
  • Mr. William I. Foster III (Age 68)
    CEO, President & Director
    Comp: $847.4k
  • Mr. William B. Littreal (Age 54)
    Senior EVP & CFO
    Comp: $903.11k
  • Mr. William T. Morrison (Age 61)
    President & CEO of TowneBank Financial Services Group and Director
    Comp: $488.61k
  • Mr. R. Lee Clark (Age 56)
    Senior Executive VP & COO
  • Mr. Kevin L. Fly (Age 58)
    Senior EVP & Chief Accounting Officer
  • Mr. Denys J. Diaz (Age 57)
    Senior EVP & Chief Information Officer
  • Mr. George P. Whitley (Age 71)
    Senior EVP & Chief Legal Officer
  • Mr. Scott V. Williams
    Executive VP and Director of Marketing & Member Experience
  • Mr. James P. Bradner
    Executive Vice President of Towneinsurance














TOWN Stock Analysis - Frequently Asked Questions

Should I buy or sell TowneBank stock right now?

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for TowneBank in the last year. There are currently 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" TOWN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in TOWN, but not buy additional shares or sell existing shares.
View TOWN analyst ratings
or view top-rated stocks.

What is TowneBank's stock price target for 2024?

4 brokers have issued 1-year target prices for TowneBank's shares. Their TOWN share price targets range from $27.00 to $32.00. On average, they expect the company's share price to reach $28.75 in the next year. This suggests a possible upside of 5.3% from the stock's current price.
View analysts price targets for TOWN
or view top-rated stocks among Wall Street analysts.

How have TOWN shares performed in 2024?

TowneBank's stock was trading at $29.76 at the beginning of 2024. Since then, TOWN stock has decreased by 8.3% and is now trading at $27.30.
View the best growth stocks for 2024 here
.

Are investors shorting TowneBank?

TowneBank saw a decline in short interest in the month of January. As of January 31st, there was short interest totaling 651,300 shares, a decline of 10.9% from the January 15th total of 730,600 shares. Based on an average trading volume of 210,900 shares, the days-to-cover ratio is currently 3.1 days. Approximately 1.0% of the company's shares are sold short.
View TowneBank's Short Interest
.

When is TowneBank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, April 25th 2024.
View our TOWN earnings forecast
.

How were TowneBank's earnings last quarter?

TowneBank (NASDAQ:TOWN) issued its quarterly earnings data on Wednesday, January, 24th. The bank reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by $0.05. The bank had revenue of $155.55 million for the quarter, compared to the consensus estimate of $164.67 million. TowneBank had a net margin of 16.33% and a trailing twelve-month return on equity of 8.09%. TowneBank's revenue was down 11.3% compared to the same quarter last year.

How often does TowneBank pay dividends? What is the dividend yield for TowneBank?

TowneBank announced a quarterly dividend on Wednesday, November 29th. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share on Friday, January 12th. This represents a $1.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Thursday, December 28th.
Read our dividend analysis for TOWN
.

Is TowneBank a good dividend stock?

TowneBank (NASDAQ:TOWN) pays an annual dividend of $1.00 per share and currently has a dividend yield of 3.60%. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 48.31%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TOWN will have a dividend payout ratio of 38.76% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for TOWN.

What ETFs hold TowneBank's stock?

ETFs with the largest weight of TowneBank (NASDAQ:TOWN) stock in their portfolio include First Trust NASDAQ ABA Community Bank Index Fund (QABA).Timothy Plan US Small Cap Core ETF (TPSC).

What is J. Morgan Davis' approval rating as TowneBank's CEO?

12 employees have rated TowneBank Chief Executive Officer J. Morgan Davis on Glassdoor.com. J. Morgan Davis has an approval rating of 100% among the company's employees. This puts J. Morgan Davis in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of TowneBank own?

Based on aggregate information from My MarketBeat watchlists, some companies that other TowneBank investors own include Dominion Energy (D), Noble (NE), Altria Group (MO), Southern (SO), Weyerhaeuser (WY), Goodyear Tire & Rubber (GT), NVIDIA (NVDA), Pfizer (PFE), AT&T (T) and Armada Hoffler Properties (AHH).

Who are TowneBank's major shareholders?

TowneBank's stock is owned by many different institutional and retail investors. Top institutional investors include Vanguard Group Inc. (10.19%), Dimensional Fund Advisors LP (5.55%), Nuance Investments LLC (3.31%), Charles Schwab Investment Management Inc. (1.08%), Northern Trust Corp (0.95%) and Goldman Sachs Group Inc. (0.91%).

How do I buy shares of TowneBank?

Shares of TOWN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:TOWN) was last updated on 2/21/2024 by MarketBeat.com Staff