TowneBank (TOWN)
| Market Cap | 2.59B |
| Revenue (ttm) | 671.84M |
| Net Income (ttm) | 149.30M |
| Shares Out | 74.10M |
| EPS (ttm) | 1.99 |
| PE Ratio | 17.51 |
| Forward PE | 14.62 |
| Dividend | $1.00 (2.87%) |
| Ex-Dividend Date | Sep 30, 2024 |
| Volume | 296,295 |
| Open | 35.21 |
| Previous Close | 35.40 |
| Day's Range | 34.53 - 35.40 |
| 52-Week Range | 25.70 - 36.67 |
| Beta | 0.91 |
| Analysts | Buy |
| Price Target | 36.00 (+3.12%) |
| Earnings Date | Oct 23, 2024 |
About TOWN
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. The company also offers secured and unsecured personal loans for financing automobiles, home improvements, education, and personal investments; commercial loans for working capital, business expansion... [Read more]
Financial Performance
In 2023, TowneBank's revenue was $675.44 million, a decrease of -0.25% compared to the previous year's $677.14 million. Earnings were $153.72 million, a decrease of -18.66%.
Financial StatementsAnalyst Forecast
According to 2 analysts, the average rating for TOWN stock is "Buy." The 12-month stock price forecast is $36.0, which is an increase of 3.12% from the latest price.
News
TowneBank Announces Quarterly Cash Dividend
SUFFOLK, Va., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its third-quarter shareholder cash dividend of $0.25 p...
TowneBank Reports First Quarter 2024 Earnings
SUFFOLK, Va., April 24, 2024 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended March 31, 2024 of $34.69 million, or $0.46 per dilute...
TowneBank Announces Retirement of Two Directors
SUFFOLK, Va., March 27, 2024 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) announced today that two long-serving members of its Board of Directors, Jacqueline B.
Sachin Shetty, Ph.D., Joins TowneBank Corporate Board of Directors
SUFFOLK, Va., March 05, 2024 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) is pleased to announce that TowneBank has appointed Sachin Shetty, Ph.D.
Townebank Announces Quarterly Cash Dividend
SUFFOLK, Va., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its fourth-quarter shareholder cash dividend of $0.25 ...
TowneBank Reports Third Quarter 2023 Earnings
SUFFOLK, Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended September 30, 2023 of $44.86 million, or $0.60 per dil...
TowneBank Reports Second Quarter 2023 Earnings
SUFFOLK, Va., July 27, 2023 (GLOBE NEWSWIRE) -- TowneBank ("Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended June 30, 2023 of $41.72 million, or $0.56 per diluted share, compared t...
TowneBank: Trading At 12x Earnings And 1.2x Tangible Book Value
TowneBank has completed the acquisition of Farmers Bankshares. The net income in Q1 was still pretty strong thanks to an increased net interest income. The total amount of loan loss provisions spiked,...
KBRA Affirms Ratings for TowneBank
NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA affirms the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for Portsmo...
9 Upcoming Dividend Increases Including A Dividend King
Dividend increases typically indicate strong business performance and a commitment to rewarding shareholders. The article provides a list of companies with at least five years of consistent dividend g...
Caterpillar, Target Among 10 Companies To Announce Annual Dividend Increases In June
The latter half of May was disappointing for dividend growth investors, as Lowe's pulled back on its dividend growth rate and Union Pacific skipped its annual increase. The big increases came from sma...
TowneBank Reports First Quarter 2023 Earnings
SUFFOLK, Va., April 27, 2023 (GLOBE NEWSWIRE) -- TowneBank ("Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended March 31, 2023 of $38.33 million, or $0.52 per diluted share, compared...
Aubrey L. Layne Jr. and J. Christopher Perry Join TowneBank Corporate Board of Directors
SUFFOLK, Va., March 14, 2023 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) is pleased to announce that the TowneBank Board of Directors has appointed Aubrey L. Layne, Jr. and J. Christopher Perry to it...
TowneBank Reports Full Year and Fourth Quarter Financial Results for 2022
SUFFOLK, Va., Jan. 26, 2023 (GLOBE NEWSWIRE) -- TowneBank ("Towne") (Nasdaq: TOWN) today reported financial results for the full year and the fourth quarter ended December 31, 2022. For the year ended...
TowneBank Announces Completion of Farmers Bank Merger
SUFFOLK, Va., Jan. 17, 2023 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) announced today the completion of its merger with Farmers Bankshares, Inc. and its subsidiary, Farmers Bank, Windsor, Virginia....
TowneBank Names Clark as Chief Operating Officer
SUFFOLK, Va., Jan. 05, 2023 (GLOBE NEWSWIRE) -- TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) is pleased to announce the promotion of R. Lee Clark to Chief Operating Officer. In this role, Clark...
TowneBank Announces Timing of Closing of Farmers Bank Merger
SUFFOLK, Va. and WINDSOR, Va., Dec. 16, 2022 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq: TOWN) and Farmers Bankshares, Inc. (OTCPK: FBVA), the parent company of Farmers Bank, Windsor, V...
TowneBank Announces Retirement and Transition of President and Chief Operating Officer Roles
SUFFOLK, Va., Nov. 23, 2022 (GLOBE NEWSWIRE) -- TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) announced today that Brad E. Schwartz, Towne's president and chief operating officer, will retire fr...
TowneBank Reports Third Quarter 2022 Earnings
SUFFOLK, Va., Oct. 27, 2022 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ: TOWN) today reported earnings for the quarter ended September 30, 2022 of $50.17 million, or $0.69 per dil...
TowneBank Promotes Morrison and Miller
SUFFOLK, Va., Oct. 13, 2022 (GLOBE NEWSWIRE) -- TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) announced today the promotions of William T. Morrison to president and chief executive officer of To...
TowneBank Promotes Skinner, Davis and Wallace
SUFFOLK, Va., Oct. 11, 2022 (GLOBE NEWSWIRE) -- TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) is pleased to announce the creation of new roles to lead its banking teams in Virginia and North Car...
TowneBank Promotes Dawn S. Glynn
SUFFOLK, Va., Oct. 03, 2022 (GLOBE NEWSWIRE) -- TowneBank (the “Company” or “Towne”) (Nasdaq: TOWN) is pleased to announce the selection of Dawn S. Glynn as the leader of the bank's new Corporate Serv...
TowneBank: Strengthening Its Position With Farmers Bank Acquisition
TowneBank is a Virginia-focused bank with about $17B in assets. The loan book is heavily focused on commercial real estate, but the loan quality appears to be good.
TowneBank Names Chief Executive Officer Successor
SUFFOLK, Va., Aug. 26, 2022 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (the “Company” or “Towne”) (NASDAQ: TOWN) announced today that its Board of Directors selected William (Billy) I. Foster, ...
Townebank Announces Agreement To Acquire Farmers Bankshares, Inc. and Farmers Bank
SUFFOLK, Va. and WINDSOR, Va., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) and Farmers Bankshares, Inc. (OTCPK: FBVA), the parent company of Farmers Bank, Windsor, V...