NASDAQ:TOWNTowneBank Stock Price, Forecast & News

$19.53

-0.35 (-1.76 %)

(As of 05/28/2020 04:00 PM ET)

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Today's Range

$19.41

Now: $19.53▼

$20.14

50-Day Range

$16.15

MA: $18.41▼

$20.87

52-Week Range

$15.03

Now: $19.53▼

$29.02

Volume179,600 shs

Average Volume180,274 shs

Market Capitalization$1.42 billion

P/E Ratio10.56

Dividend Yield3.62%

Beta1.2

TowneBank provides retail and commercial banking services for small- and medium-size businesses, professionals, and individuals. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts, and negotiable order of withdrawal 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, cash management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts, as well as Internet, 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, such as alternative investments, annuities, margin accounts, convertible bonds, and pension and profit sharing plans. Additionally, it provides residential real estate, relocation, property management, vacations rental, and title and settlement services; and originates residential mortgage loans. The company offers life, property, casualty, travel, and vehicle insurance services; medical, and baggage protection insurance for travelers; and employee benefit programs, such as medical, dental, vision, and disability insurance. As of February 27, 2019, it operated 41 banking offices in Virginia and North Carolina. TowneBank was founded in 1998 and is based in Portsmouth, Virginia.

Beat the Market (BTM) Rank^™

3.0 Analyst's Opinion

Consensus Rating
TowneBank has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $27.50, TowneBank has a potential upside of 40.8% from its current price of $19.53.
Amount of Analyst Coverage
TowneBank has received no research coverage in the past 90 days.

2.1 Community Rank

Outperform Votes
TowneBank has received 190 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
TowneBank has received 261 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
TowneBank has received 57.87% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about TowneBank and other stocks. Vote “Outperform” if you believe TOWN will outperform the S&P 500 over the long term. Vote “Underperform” if you believe TOWN will underperform the S&P 500 over the long term. You may vote once every thirty days.

4.2 Dividend Strength

Dividend Leadership
TowneBank is a leading dividend payer. It pays a dividend yield of 3.62%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
TowneBank has been increasing its dividend for 8 years.
Dividend Coverage
The dividend payout ratio of TowneBank is 37.31 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, TowneBank will have a dividend payout ratio of 72.00 % next year. This indicates that TowneBank will be able to sustain or increase its dividend.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, TowneBank insiders have not sold or bought any company stock.
Percentage Held by Institutions
47.56% of the stock of TowneBank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9 Earnings and Valuation

Earnings Growth
Earnings for TowneBank are expected to decrease by -30.07% in the coming year, from $1.43 to $1.00 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of TowneBank is 10.56, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 14.85.
Price to Earnings Ratio vs. Sector
The P/E ratio of TowneBank is 10.56, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 19.22.
Price to Book Value per Share Ratio
TowneBank has a P/B Ratio of 0.91. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.43 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry State commercial banks

Sub-IndustryRegional Banks

SectorFinance

Current SymbolNASDAQ:TOWN

Previous Symbol

CUSIP89214P10

CIKN/A

Webwww.townebank.com

Phone757-638-7500

Debt

Debt-to-Equity Ratio0.23

Current Ratio0.97

Quick Ratio0.92

Price-To-Earnings

Trailing P/E Ratio10.56

Forward P/E Ratio13.66

P/E GrowthN/A

Sales & Book Value

Annual Sales$673.41 million

Price / Sales2.11

Cash Flow$2.52 per share

Price / Cash Flow7.76

Book Value$21.35 per share

Price / Book0.91

Profitability

EPS (Most Recent Fiscal Year)$1.93

Net Income$138.78 million

Net Margins19.80%

Return on Equity8.27%

Return on Assets1.12%

Miscellaneous

Employees2,410

Outstanding Shares72,630,000

Market Cap$1.42 billion

Next Earnings Date7/23/2020 (Estimated)

OptionableOptionable

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TowneBank (NASDAQ:TOWN) Frequently Asked Questions

How has TowneBank's stock been impacted by COVID-19 (Coronavirus)?

TowneBank's stock was trading at $20.54 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, TOWN stock has decreased by 4.9% and is now trading at $19.53. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of TowneBank?

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for TowneBank in the last year. There are currently 2 hold ratings for the stock, resulting in a consensus recommendation of "Hold." View analyst ratings for TowneBank.

When is TowneBank's next earnings date?

TowneBank is scheduled to release its next quarterly earnings announcement on Thursday, July 23rd 2020. View our earnings forecast for TowneBank.

How were TowneBank's earnings last quarter?

TowneBank (NASDAQ:TOWN) issued its earnings results on Monday, April, 27th. The bank reported $0.36 EPS for the quarter, beating the Zacks' consensus estimate of $0.35 by $0.01. The bank earned $137.70 million during the quarter, compared to analyst estimates of $138.05 million. TowneBank had a net margin of 19.80% and a return on equity of 8.27%. View TowneBank's earnings history.

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

TowneBank declared a quarterly dividend on Thursday, February 27th. Stockholders of record on Monday, March 30th will be given a dividend of $0.18 per share on Friday, April 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, March 27th. View TowneBank's dividend history.

What price target have analysts set for TOWN?

2 brokers have issued 1 year target prices for TowneBank's stock. Their forecasts range from $27.00 to $28.00. On average, they anticipate TowneBank's stock price to reach $27.50 in the next twelve months. This suggests a possible upside of 40.8% from the stock's current price. View analysts' price targets for TowneBank.

Has TowneBank been receiving favorable news coverage?

Headlines about TOWN stock have been trending very negative recently, InfoTrie Sentiment reports. InfoTrie identifies negative and positive press coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. TowneBank earned a daily sentiment score of -3.0 on InfoTrie's scale. They also assigned news stories about the bank a news buzz of 0.0 out of 10, meaning that recent press coverage is extremely unlikely to have an impact on the company's share price in the next few days. View the latest news aboutTowneBank.

Are investors shorting TowneBank?

TowneBank saw a increase in short interest during the month of April. As of April 30th, there was short interest totaling 589,200 shares, an increase of 5.7% from the April 15th total of 557,400 shares. Based on an average daily volume of 191,700 shares, the short-interest ratio is presently 3.1 days. Approximately 0.9% of the shares of the stock are short sold. View TowneBank's Current Options Chain.

Who are some of TowneBank's key competitors?

Some companies that are related to TowneBank include PNC Financial Services Group (PNC), Truist Financial (TFC), SunTrust Banks (STI), First Republic Bank (FRC), M&T Bank (MTB), Fifth Third Bancorp (FITB), KeyCorp (KEY), SVB Financial Group (SIVB), Regions Financial (RF), Huntington Bancshares (HBAN), Commerce Bancshares (CBSH), Prosperity Bancshares (PB), Zions Bancorporation NA (ZION), Signature Bank (SBNY) and East West Bancorp (EWBC). View all competitors.

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 key executives?

TowneBank's management team includes the following people:

Mr. G. Robert Aston Jr., Exec. Chairman (Age 74)
Mr. J. Morgan Davis, Pres, CEO & Director (Age 68)
Mr. Brad E. Schwartz CPA, Sr. EVP, COO & Director (Age 56)
Mr. William B. Littreal, Sr. EVP, CFO & Director of Investor Relations (Age 49)
Mr. Kevin L. Fly, Sr. EVP & Chief Accounting Officer (Age 53)

What is TowneBank's stock symbol?

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

Who are TowneBank's major shareholders?

TowneBank's stock is owned by many different institutional and retail investors. Top institutional shareholders include BlackRock Inc. (7.12%), State Street Corp (1.96%), Geode Capital Management LLC (1.35%), Bank of New York Mellon Corp (0.67%), Chartwell Investment Partners LLC (0.62%) and Nuveen Asset Management LLC (0.50%).

Which institutional investors are selling TowneBank stock?

TOWN stock was sold by a variety of institutional investors in the last quarter, including First Trust Advisors LP, Morgan Stanley, Morgan Stanley, Russell Investments Group Ltd., UBS Group AG, Fuller & Thaler Asset Management Inc., Bank of New York Mellon Corp, and Victory Capital Management Inc..

Which institutional investors are buying TowneBank stock?

TOWN stock was purchased by a variety of institutional investors in the last quarter, including Nuance Investments LLC, BlackRock Inc., Martingale Asset Management L P, Geode Capital Management LLC, State Street Corp, JPMorgan Chase & Co., Parametric Portfolio Associates LLC, and Bessemer Group Inc..

How do I buy shares of TowneBank?

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

What is TowneBank's stock price today?

One share of TOWN stock can currently be purchased for approximately $19.53.

How big of a company is TowneBank?

TowneBank has a market capitalization of $1.42 billion and generates $673.41 million in revenue each year. The bank earns $138.78 million in net income (profit) each year or $1.93 on an earnings per share basis. TowneBank employs 2,410 workers across the globe.

What is TowneBank's official website?

The official website for TowneBank is www.townebank.com.

How can I contact TowneBank?

TowneBank's mailing address is 5716 High Street, Portsmouth VA, 23703. The bank can be reached via phone at 757-638-7500 or via email at [email protected]

This page was last updated on 5/28/2020 by MarketBeat.com Staff