TowneBank - TOWN Stock Forecast, Price & News

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for TowneBank in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" TOWN shares.
View TOWN analyst ratings or view top-rated stocks.

TowneBank's stock was trading at $30.84 at the beginning of the year. Since then, TOWN shares have decreased by 13.6% and is now trading at $26.65.
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TowneBank saw a increase in short interest during the month of March. As of March 15th, there was short interest totaling 909,100 shares, an increase of 24.7% from the February 28th total of 728,900 shares. Based on an average trading volume of 187,900 shares, the days-to-cover ratio is presently 4.8 days.
View TowneBank's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, April 27th 2023.
View our TOWN earnings forecast.

TowneBank (NASDAQ:TOWN) announced its earnings results on Thursday, January, 26th. The bank reported $0.65 earnings per share for the quarter. The bank earned $175.31 million during the quarter. TowneBank had a net margin of 25.42% and a trailing twelve-month return on equity of 10.19%.

TowneBank announced a quarterly dividend on Wednesday, February 22nd. Shareholders of record on Thursday, March 30th will be paid a dividend of $0.23 per share on Wednesday, April 12th. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, March 29th.
Read our dividend analysis for TOWN.

ETFs with the largest weight of TowneBank (NASDAQ:TOWN) stock in their portfolio include First Trust NASDAQ ABA Community Bank Index Fund (QABA), iShares US Small Cap Value Factor ETF (SVAL), Hartford Multifactor Small Cap ETF (ROSC), Timothy Plan US Small Cap Core ETF (TPSC), VictoryShares US Discovery Enhanced Volatility Wtd ETF (CSF), VictoryShares US Small Cap Volatility Wtd (CSA), SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) and WisdomTree U.S. SmallCap Fund (EES).

TowneBank (NASDAQ:TOWN) pays an annual dividend of $0.92 per share and currently has a dividend yield of 3.36%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 35.38%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TOWN will have a dividend payout ratio of 34.33% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for TOWN.

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.

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).

TowneBank trades on the NASDAQ under the ticker symbol "TOWN."

TowneBank's stock is owned by many different institutional and retail investors. Top institutional investors include T. Rowe Price Investment Management Inc. (5.05%), Dimensional Fund Advisors LP (4.65%), American Century Companies Inc. (1.97%), Nuance Investments LLC (1.76%), Geode Capital Management LLC (1.76%) and Charles Schwab Investment Management Inc. (0.92%).

Shares of TOWN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of TOWN stock can currently be purchased for approximately $26.65.

TowneBank (NASDAQ:TOWN) has a market capitalization of $1.94 billion and generates $743.51 million in revenue each year. The bank earns $188.99 million in net income (profit) each year or $2.60 on an earnings per share basis.

The company employs 2,617 workers across the globe.

TowneBank's mailing address is 5716 High Street West, Portsmouth VA, 23703. The official website for the company is www.townebank.com. The bank can be reached via phone at (757) 638-7500, via email at william.littreal@townebank.net, or via fax at 215-832-1055.