$0.54 Earnings Per Share Expected for TowneBank (TOWN) This Quarter

Share on StockTwits

Equities research analysts expect TowneBank (NASDAQ:TOWN) to post earnings per share of $0.54 for the current quarter, according to Zacks. Two analysts have issued estimates for TowneBank’s earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.53. TowneBank posted earnings of $0.44 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 22.7%. The firm is expected to issue its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that TowneBank will report full year earnings of $2.04 per share for the current year, with EPS estimates ranging from $2.02 to $2.05. For the next year, analysts expect that the business will post earnings of $2.20 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover TowneBank.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings results on Friday, July 27th. The bank reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. The company had revenue of $137.06 million for the quarter, compared to analysts’ expectations of $133.65 million. TowneBank had a return on equity of 9.46% and a net margin of 18.11%.

A number of equities research analysts have recently weighed in on TOWN shares. BidaskClub raised TowneBank from a “hold” rating to a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research raised TowneBank from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Wednesday, August 1st. Brean Capital reaffirmed a “hold” rating on shares of TowneBank in a report on Monday, August 27th. Finally, Piper Jaffray Companies set a $34.00 price target on TowneBank and gave the company a “hold” rating in a report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $34.50.

Large investors have recently made changes to their positions in the stock. ACG Wealth bought a new stake in TowneBank during the second quarter worth approximately $203,000. SG Americas Securities LLC raised its holdings in TowneBank by 89.3% during the first quarter. SG Americas Securities LLC now owns 8,442 shares of the bank’s stock worth $241,000 after purchasing an additional 3,983 shares in the last quarter. Principal Financial Group Inc. bought a new stake in TowneBank during the first quarter worth approximately $290,000. Xact Kapitalforvaltning AB raised its holdings in TowneBank by 70.3% during the first quarter. Xact Kapitalforvaltning AB now owns 11,388 shares of the bank’s stock worth $326,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in TowneBank by 67.5% during the first quarter. Victory Capital Management Inc. now owns 13,195 shares of the bank’s stock worth $377,000 after purchasing an additional 5,317 shares in the last quarter. 44.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TOWN traded up $0.07 during mid-day trading on Thursday, reaching $30.06. 14 shares of the company’s stock traded hands, compared to its average volume of 148,644. The stock has a market cap of $2.22 billion, a PE ratio of 19.28 and a beta of 0.90. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 0.60. TowneBank has a 12 month low of $27.85 and a 12 month high of $35.30.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Friday, September 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.64 annualized dividend and a yield of 2.13%. TowneBank’s payout ratio is 41.03%.

About TowneBank

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, negotiable order of withdrawal accounts, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.

See Also: Fundamental Analysis and Choosing Stocks

Get a free copy of the Zacks research report on TowneBank (TOWN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for TowneBank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TowneBank and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.