TowneBank (NASDAQ:TOWN – Get Free Report) issued its earnings results on Wednesday. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09, Briefing.com reports. The company had revenue of $174.97 million for the quarter, compared to analyst estimates of $172.20 million. TowneBank had a net margin of 15.50% and a return on equity of 7.45%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS.
TowneBank Trading Up 4.7 %
Shares of NASDAQ:TOWN traded up $1.49 during midday trading on Thursday, hitting $33.52. 347,811 shares of the stock were exchanged, compared to its average volume of 257,816. The stock has a market cap of $2.51 billion, a P/E ratio of 15.94 and a beta of 0.90. TowneBank has a twelve month low of $21.63 and a twelve month high of $33.93. The company has a 50 day moving average price of $27.72 and a 200-day moving average price of $27.54.
TowneBank Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Friday, June 28th. TowneBank’s dividend payout ratio (DPR) is presently 49.75%.
Analysts Set New Price Targets
Get Our Latest Research Report on TOWN
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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