Towne Bank (TOWN) Receiving Somewhat Negative News Coverage, Accern Reports
Headlines about Towne Bank (NASDAQ:TOWN) have been trending somewhat negative on Friday, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Towne Bank earned a news impact score of 0.00 on Accern’s scale. Accern also gave news articles about the bank an impact score of 46.8357556014409 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Towne Bank (TOWN) traded up $0.05 during mid-day trading on Friday, hitting $31.85. The stock had a trading volume of 151,812 shares, compared to its average volume of 152,694. Towne Bank has a 1 year low of $27.65 and a 1 year high of $35.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market cap of $2,017.95, a price-to-earnings ratio of 21.36 and a beta of 1.00.
Towne Bank (NASDAQ:TOWN) last announced its earnings results on Thursday, October 26th. The bank reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Towne Bank had a net margin of 19.55% and a return on equity of 8.49%. The business had revenue of $115.34 million for the quarter, compared to the consensus estimate of $118.96 million. equities analysts forecast that Towne Bank will post 1.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were issued 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 yield of 1.76%. Towne Bank’s payout ratio is currently 36.84%.
A number of research analysts have recently issued reports on TOWN shares. BidaskClub downgraded shares of Towne Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Piper Jaffray Companies reiterated a “neutral” rating and set a $32.00 price objective on shares of Towne Bank in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded shares of Towne Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th.
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.
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