TowneBank (NASDAQ:TOWN – Get Free Report) released its quarterly earnings data on Wednesday. The bank reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48, Briefing.com reports. TowneBank had a net margin of 16.33% and a return on equity of 8.03%. The firm had revenue of $167.10 million for the quarter, compared to the consensus estimate of $169.68 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis.
TowneBank Stock Performance
NASDAQ TOWN traded down $0.90 during trading hours on Thursday, hitting $26.85. The company had a trading volume of 64,070 shares, compared to its average volume of 241,570. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $27.07 and a 200-day simple moving average of $27.07. The firm has a market cap of $1.95 billion, a P/E ratio of 13.41 and a beta of 0.89. TowneBank has a fifty-two week low of $21.22 and a fifty-two week high of $31.08.
TowneBank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Wednesday, March 27th. TowneBank’s dividend payout ratio is presently 48.31%.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on TowneBank
TowneBank Company Profile
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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