NASDAQ:TOWN

TowneBank - TOWN Stock Forecast, Price & News

$27.73

+0.26 (+0.95%)

(As of 09/28/2022 12:00 AM ET)

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Today's Range: $27.32
▼
$28.01
50-Day Range: $27.47
▼
$31.18
52-Week Range: $26.18
▼
$34.79

Volume: 138,432 shs
Average Volume: 187,171 shs
Market Capitalization: $2.02 billion

P/E Ratio: 11.05
Dividend Yield: 3.35%
Price Target: N/A

About TowneBank (NASDAQ:TOWN) Stock

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, vacations rental, 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 headquartered in Portsmouth, Virginia.

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TOWN Stock News Headlines

September 7, 2022 | finance.yahoo.com

Earnings grew faster than the 0.2% CAGR delivered to TowneBank (NASDAQ:TOWN) shareholders over the last five years

September 6, 2022 | nasdaq.com

UBS Group (UBS) and Wealthfront Terminate Merger Agreement - Nasdaq

September 3, 2022 | bizjournals.com

TBJ Plus: Cary lauded for safety; Wake real estate prices fall; Pricey game in Boone - The Business Journals

August 26, 2022 | seekingalpha.com

TowneBank: Strengthening Its Position With Farmers Bank Acquisition

August 26, 2022 | globenewswire.com

TowneBank Names Chief Executive Officer Successor - GlobeNewswire

August 26, 2022 | finance.yahoo.com

TowneBank Names Chief Executive Officer Successor

August 26, 2022 | seekingalpha.com

TowneBank lays down CEO succession plan

August 24, 2022 | nasdaq.com

UBS Agrees to Divest Its Feeder Fund Platform to iCapital - Nasdaq

August 24, 2022 | nasdaq.com

Truist (TFC) Buys Zaloni Assets, Extends Data Management Skills - Nasdaq

August 19, 2022 | bizjournals.com

Biz: Housing prices finally cool in Asheville, NC mountains - Triangle Business Journal - The Business Journals

August 19, 2022 | bizjournals.com

Biz: Housing prices finally cool in Asheville, NC mountains - The Business Journals

August 18, 2022 | nasdaq.com

Financial Sector Update for 08/18/2022: SLNH,TOWN,FBVA,MSBI,ACT - Nasdaq

August 18, 2022 | globenewswire.com

Townebank Announces Agreement To Acquire Farmers Bankshares, Inc. and Farmers Bank - GlobeNewswire

August 16, 2022 | nasdaq.com

TOWN Breaks Above 3% Yield Territory - Nasdaq

August 2, 2022 | bizjournals.com

TowneBank brings on Ted Wolfe to lead Charlotte market - The Business Journals

August 2, 2022 | finance.yahoo.com

TowneBank brings on new leader for Charlotte market

August 2, 2022 | nasdaq.com

TowneBank's (NASDAQ:TOWN) three-year earnings growth trails the shareholder returns - Nasdaq

July 30, 2022 | finance.yahoo.com

TowneBank Reports Second Quarter 2022 Earnings - Yahoo Finance

July 28, 2022 | investing.com

Towne Bank Tops Q2 EPS by 1c By Investing.com - Investing.com

July 28, 2022 | globenewswire.com

TowneBank Reports Second Quarter 2022 Earnings - GlobeNewswire

July 28, 2022 | finance.yahoo.com

TowneBank Reports Second Quarter 2022 Earnings

July 8, 2022 | bizjournals.com

TBJ Plus: ACC worries; Banker joins NC State NIL effort; Wilmington market still hot - Triangle Business Journal - The Business Journals

June 22, 2022 | forbes.com

Commercial Real Estate — Buy, Sell, or Hold? - Forbes

June 21, 2022 | finance.yahoo.com

TowneBank (NASDAQ:TOWN) Is Paying Out A Larger Dividend Than Last Year

June 17, 2022 | businesswire.com

Total Expert Announces Customer Expy Award Winners at 2022 Accelerate Conference - Business Wire

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30 days | 90 days | 365 days | Advanced Chart

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TOWN Company Calendar

Ex-Dividend for 7/12 Dividend: 6/29/2022
Dividend Payable: 7/12/2022
Last Earnings: 7/28/2022
Today: 9/28/2022
Ex-Dividend for 10/14 Dividend: 9/29/2022
Dividend Payable: 10/14/2022
Next Earnings (Estimated): 10/27/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: State commercial banks
Sub-Industry: Regional Banks
Sector: Finance
Current Symbol: NASDAQ:TOWN
CUSIP: 89214P10
CIK: N/A
Web: www.townebank.com
Phone: (757) 638-7500
Fax: 215-832-1055
Employees: 2,617
Year Founded: N/A

Profitability

EPS (Most Recent Fiscal Year): $2.51
Trailing P/E Ratio: 11.05
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $215.38 million
Net Margins: 26.07%
Pretax Margin: 33.43%
Return on Equity: 9.66%
Return on Assets: 1.11%

Debt

Debt-to-Equity Ratio: 0.03
Current Ratio: 0.89
Quick Ratio: 0.88

Sales & Book Value

Annual Sales: $721.41 million
Price / Sales: 2.80
Cash Flow: $3.49 per share
Price / Cash Flow: 7.94
Book Value: $26.38 per share
Price / Book: 1.05

Miscellaneous

Outstanding Shares: 72,744,000
Free Float: N/A
Market Cap: $2.02 billion
Optionable: Optionable
Beta: 0.98

Key Executives

Mr. G. Robert Aston Jr. (Age 77)
Exec. Chairman
Comp: $1.45M

Mr. J. Morgan Davis (Age 71)
CEO & Director
Comp: $1.39M

Mr. Brad E. Schwartz CPA (Age 59)
Pres, COO & Director
Comp: $972.17k

Mr. William B. Littreal (Age 52)
Sr. EVP, CFO & Director of Investor Relations
Comp: $843.28k

Mr. William I. Foster III (Age 66)
Pres of Central Virginia & the Carolinas and Director
Comp: $651.85k

Mr. Kevin L. Fly (Age 56)
Sr. EVP & Chief Accounting Officer

Mr. Denys J. Diaz (Age 55)
Chief Information Officer

Mr. George P. Whitley (Age 69)
Sr. EVP & Chief Legal Officer

Mr. Scott V. Williams
Exec. VP and Director of Marketing & Member Experience

Mr. R. Lee Clark
Sr. EVP & Chief HR Officer

Key Competitors

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Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

TOWN Stock - Frequently Asked Questions

How have TOWN shares performed in 2022?: TowneBank's stock was trading at $31.59 at the beginning of 2022. Since then, TOWN stock has decreased by 12.2% and is now trading at $27.73.
View the best growth stocks for 2022 here.
When is TowneBank's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, October 27th 2022.
View our TOWN earnings forecast.
How were TowneBank's earnings last quarter?: TowneBank (NASDAQ:TOWN) announced its earnings results on Thursday, July, 28th. The bank reported $0.64 earnings per share for the quarter. The bank earned $166.98 million during the quarter. TowneBank had a net margin of 26.07% and a trailing twelve-month return on equity of 9.66%.
How often does TowneBank pay dividends? What is the dividend yield for TowneBank?: TowneBank declared a quarterly dividend on Wednesday, August 24th. Stockholders of record on Friday, September 30th will be given a dividend of $0.23 per share on Friday, October 14th. This represents a $0.92 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, September 29th.
Read our dividend analysis for TOWN.
Is TowneBank a good dividend stock?: TowneBank (NASDAQ:TOWN) pays an annual dividend of $0.92 per share and currently has a dividend yield of 3.35%. The company has been increasing its dividend for 10 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 36.65%. This payout ratio is at a healthy, sustainable level, below 75%.
Read our dividend analysis for TOWN.
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).
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 a variety of institutional and retail investors. Top institutional shareholders include Price T Rowe Associates Inc. MD (0.00%), State Street Corp (2.35%), Goldman Sachs Group Inc. (1.87%), Nuance Investments LLC (1.34%), Renaissance Technologies LLC (1.15%) and Northern Trust Corp (0.90%).
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is TowneBank's stock price today?: One share of TOWN stock can currently be purchased for approximately $27.73.
How much money does TowneBank make?: TowneBank (NASDAQ:TOWN) has a market capitalization of $2.02 billion and generates $721.41 million in revenue each year. The bank earns $215.38 million in net income (profit) each year or $2.51 on an earnings per share basis.
How many employees does TowneBank have?: The company employs 2,617 workers across the globe.
How can I contact TowneBank?: 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.

This page (NASDAQ:TOWN) was last updated on 9/28/2022 by MarketBeat.com Staff

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