Equities analysts expect that TowneBank (NASDAQ:TOWN) will announce earnings per share (EPS) of $0.63 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for TowneBank’s earnings, with estimates ranging from $0.62 to $0.64. TowneBank posted earnings of $0.48 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 31.3%. The firm is expected to report its next earnings report on Thursday, October 28th.
According to Zacks, analysts expect that TowneBank will report full year earnings of $2.87 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $2.90. For the next year, analysts anticipate that the firm will post earnings of $2.17 per share, with EPS estimates ranging from $2.00 to $2.32. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow TowneBank.
TowneBank (NASDAQ:TOWN) last released its earnings results on Thursday, July 29th. The bank reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.11. TowneBank had a net margin of 27.16% and a return on equity of 11.74%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in TowneBank by 1.2% in the second quarter. Vanguard Group Inc. now owns 6,315,483 shares of the bank’s stock worth $192,117,000 after purchasing an additional 73,036 shares in the last quarter. BlackRock Inc. raised its position in TowneBank by 6.4% in the first quarter. BlackRock Inc. now owns 5,184,362 shares of the bank’s stock worth $157,603,000 after purchasing an additional 312,122 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TowneBank by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,830,867 shares of the bank’s stock worth $86,115,000 after purchasing an additional 46,384 shares in the last quarter. American Century Companies Inc. raised its position in TowneBank by 5.0% in the second quarter. American Century Companies Inc. now owns 1,581,959 shares of the bank’s stock worth $48,123,000 after purchasing an additional 75,668 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in TowneBank by 32.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,494,739 shares of the bank’s stock worth $45,471,000 after purchasing an additional 370,310 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.
TowneBank stock traded down $0.10 on Tuesday, reaching $28.36. 165 shares of the stock were exchanged, compared to its average volume of 159,776. The stock has a market cap of $2.06 billion, a PE ratio of 9.81 and a beta of 1.15. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 0.26. TowneBank has a twelve month low of $15.36 and a twelve month high of $33.25. The firm has a fifty day moving average price of $30.05 and a two-hundred day moving average price of $30.79.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 12th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Wednesday, September 29th. TowneBank’s dividend payout ratio is currently 39.80%.
TowneBank engages in the provision of retail and commercial banking services to individuals and small and medium size businesses. It operates through the following segments: Banking, Realty, and Insurance. The Banking segment offers loan and deposit services to retail and commercial customers. The Realty segment focuses on the provision of residential real estate services and originations of a variety of mortgage loans.
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