TowneBank - TOWN Stock Forecast, Price & News

TowneBank's stock was trading at $31.59 at the beginning of 2022. Since then, TOWN shares have increased by 0.9% and is now trading at $31.87.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, January 26th 2023.
View our TOWN earnings forecast.

TowneBank (NASDAQ:TOWN) issued its earnings results on Thursday, October, 28th. The bank reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The bank had revenue of $170.08 million for the quarter, compared to analyst estimates of $161.02 million. TowneBank had a trailing twelve-month return on equity of 9.69% and a net margin of 25.55%.

TowneBank declared a quarterly dividend on Monday, November 28th. Investors of record on Friday, December 30th will be paid a dividend of $0.23 per share on Thursday, January 12th. This represents a $0.92 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, December 29th.
Read our dividend analysis for TOWN.

TowneBank (NASDAQ:TOWN) pays an annual dividend of $0.92 per share and currently has a dividend yield of 2.88%. 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.

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 a variety of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (10.13%), BlackRock Inc. (7.85%), Dimensional Fund Advisors LP (4.44%), State Street Corp (2.23%), Renaissance Technologies LLC (1.02%) and DAVENPORT & Co LLC (0.66%).

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 $31.87.

TowneBank (NASDAQ:TOWN) has a market capitalization of $2.32 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.

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.