TowneBank (NASDAQ:TOWN – Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02, Briefing.com reports. TowneBank had a net margin of 15.33% and a return on equity of 7.56%. During the same period in the previous year, the company posted $0.60 EPS.
TowneBank Trading Down 3.1 %
TOWN stock traded down $1.07 during mid-day trading on Thursday, reaching $32.90. The company’s stock had a trading volume of 368,235 shares, compared to its average volume of 251,070. The company’s 50 day moving average is $33.64 and its two-hundred day moving average is $30.12. TowneBank has a fifty-two week low of $21.66 and a fifty-two week high of $35.74. The stock has a market cap of $2.47 billion, a PE ratio of 16.29 and a beta of 0.89.
TowneBank Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 3.04%. TowneBank’s payout ratio is presently 49.51%.
Analyst Upgrades and Downgrades
Check Out 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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