Sandler O’Neill Reaffirms “Hold” Rating for TowneBank (TOWN)

Sandler O’Neill reiterated their hold rating on shares of TowneBank (NASDAQ:TOWN) in a report released on Tuesday morning. They currently have a $32.00 target price on the bank’s stock.

TOWN has been the topic of several other reports. Brean Capital reiterated a hold rating on shares of TowneBank in a report on Tuesday, January 2nd. Piper Jaffray Companies reiterated a hold rating and issued a $35.00 price objective on shares of TowneBank in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of TowneBank from a hold rating to a buy rating and set a $35.00 price objective on the stock in a report on Wednesday, January 31st. BidaskClub downgraded shares of TowneBank from a hold rating to a sell rating in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $35.00 price objective on shares of TowneBank in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $34.25.

TowneBank (NASDAQ TOWN) opened at $29.05 on Tuesday. TowneBank has a fifty-two week low of $28.35 and a fifty-two week high of $35.30. The company has a market cap of $2,114.97, a price-to-earnings ratio of 20.60 and a beta of 0.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 0.96.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. TowneBank had a net margin of 17.77% and a return on equity of 8.73%. The firm had revenue of $109.14 million for the quarter, compared to the consensus estimate of $108.16 million. equities research analysts predict that TowneBank will post 1.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a $0.14 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.93%. TowneBank’s payout ratio is presently 39.72%.

Several institutional investors have recently made changes to their positions in the company. Aldebaran Financial Inc. boosted its position in shares of TowneBank by 0.4% in the second quarter. Aldebaran Financial Inc. now owns 9,073 shares of the bank’s stock valued at $279,000 after acquiring an additional 38 shares during the period. Amalgamated Bank boosted its position in shares of TowneBank by 1.6% in the second quarter. Amalgamated Bank now owns 7,135 shares of the bank’s stock valued at $220,000 after acquiring an additional 114 shares during the period. Prudential Financial Inc. boosted its position in shares of TowneBank by 5.7% in the second quarter. Prudential Financial Inc. now owns 7,225 shares of the bank’s stock valued at $223,000 after acquiring an additional 390 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of TowneBank by 3.4% in the second quarter. UBS Asset Management Americas Inc. now owns 28,610 shares of the bank’s stock valued at $881,000 after acquiring an additional 943 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of TowneBank by 3.2% in the second quarter. Nationwide Fund Advisors now owns 42,674 shares of the bank’s stock valued at $1,314,000 after acquiring an additional 1,316 shares during the period. 38.44% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Sandler O’Neill Reaffirms “Hold” Rating for TowneBank (TOWN)” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & international copyright laws. The original version of this news story can be accessed at https://www.com-unik.info/2018/02/10/sandler-oneill-reaffirms-hold-rating-for-townebank-town.html.

About TowneBank

TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit