TowneBank (TOWN) Stock Forecast, Price & News

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for TowneBank in the last year. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" TOWN shares.
View TOWN analyst ratings or view top-rated stocks.

3 analysts have issued twelve-month price objectives for TowneBank's stock. Their TOWN share price forecasts range from $28.00 to $28.00. On average, they anticipate the company's stock price to reach $28.00 in the next year. This suggests a possible upside of 20.5% from the stock's current price.
View analysts price targets for TOWN or view top-rated stocks among Wall Street analysts.

TowneBank's stock was trading at $30.84 at the beginning of 2023. Since then, TOWN stock has decreased by 24.6% and is now trading at $23.24.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our TOWN earnings forecast.

TowneBank (NASDAQ:TOWN) announced its quarterly earnings results on Thursday, April, 27th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by $0.05. The bank earned $224.16 million during the quarter, compared to analysts' expectations of $188.79 million. TowneBank had a net margin of 22.91% and a trailing twelve-month return on equity of 10.04%.

TowneBank declared a quarterly dividend on Wednesday, May 24th. Investors of record on Friday, June 30th will be given a dividend of $0.25 per share on Friday, July 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Thursday, June 29th. This is an increase from the stock's previous quarterly dividend of $0.23.
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), VictoryShares US Discovery Enhanced Volatility Wtd ETF (CSF), VictoryShares US Small Cap Volatility Wtd (CSA), Timothy Plan US Small Cap Core ETF (TPSC), WisdomTree U.S. SmallCap Fund (EES) and SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV).

TowneBank (NASDAQ:TOWN) pays an annual dividend of $0.92 per share and currently has a dividend yield of 3.85%. 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 36.95%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TOWN will have a dividend payout ratio of 39.66% 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 retail and institutional investors. Top institutional shareholders include BlackRock Inc. (7.82%), Dimensional Fund Advisors LP (4.98%), Nuance Investments LLC (2.50%), State Street Corp (2.44%), American Century Companies Inc. (2.09%) and Geode Capital Management LLC (1.89%).

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 $23.24.

TowneBank (NASDAQ:TOWN) has a market capitalization of $1.69 billion and generates $743.51 million in revenue each year. The bank earns $188.99 million in net income (profit) each year or $2.49 on an earnings per share basis.

The company employs 2,766 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.