TowneBank (NASDAQ:TOWN – Get Free Report) issued its earnings results on Wednesday. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48, Briefing.com reports. TowneBank had a net margin of 16.33% and a return on equity of 8.03%. The business had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $169.68 million. During the same quarter in the prior year, the business posted $0.62 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis.
TowneBank Stock Performance
TowneBank stock traded down $0.81 during trading hours on Thursday, reaching $26.94. 74,442 shares of the stock were exchanged, compared to its average volume of 241,821. The stock has a market cap of $1.96 billion, a P/E ratio of 12.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.88. TowneBank has a 52-week low of $21.22 and a 52-week high of $31.08. The firm’s 50 day moving average is $27.07 and its 200 day moving average is $27.07.
TowneBank Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.71%. TowneBank’s payout ratio is currently 48.31%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on TowneBank
About TowneBank
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.
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