Towne Bank (TOWN) Getting Somewhat Favorable News Coverage, Analysis Shows

Media coverage about Towne Bank (NASDAQ:TOWN) has been trending somewhat positive recently, Accern reports. Accern rates the sentiment of news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Towne Bank earned a daily sentiment score of 0.04 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 47.0234806559131 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Shares of Towne Bank (NASDAQ TOWN) traded up $0.20 during midday trading on Friday, hitting $33.60. 59,843 shares of the stock were exchanged, compared to its average volume of 124,300. The stock has a market cap of $2,102.42, a price-to-earnings ratio of 22.25 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Towne Bank (NASDAQ:TOWN) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01). The firm had revenue of $115.34 million during the quarter, compared to analyst estimates of $118.96 million. Towne Bank had a return on equity of 8.49% and a net margin of 19.55%. analysts predict that Towne Bank will post 1.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.67%. Towne Bank’s dividend payout ratio (DPR) is currently 36.84%.

A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Towne Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research downgraded shares of Towne Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $32.00 price target on shares of Towne Bank in a research report on Thursday, October 5th.

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Towne Bank Company Profile

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.

Insider Buying and Selling by Quarter for Towne Bank (NASDAQ:TOWN)

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