Earnings results for TowneBank (NASDAQ:TOWN)
Towne Bank is estimated to report earnings on 10/22/2020. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.47. The reported EPS for the same quarter last year was $0.52.
TowneBank last announced its quarterly earnings results on July 23rd, 2020. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.23. The business earned $162.66 million during the quarter, compared to the consensus estimate of $141.07 million. TowneBank has generated $1.93 earnings per share over the last year and currently has a price-to-earnings ratio of 10.0. TowneBank has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, October 22nd, 2020 based off prior year’s report dates.
Analyst Opinion on TowneBank (NASDAQ:TOWN)
2 Wall Street analysts have issued ratings and price targets for TowneBank in the last 12 months. Their average twelve-month price target is $28.00, predicting that the stock has a possible upside of 51.76%. The high price target for TOWN is $28.00 and the low price target for TOWN is $28.00. There are currently 2 hold ratings for the stock, resulting in a consensus rating of “Hold.”
TowneBank has received a consensus rating of Hold. The company’s average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $28.00, TowneBank has a forecasted upside of 51.8% from its current price of $18.45. TowneBank has only been the subject of 1 research reports in the past 90 days.
Dividend Strength: TowneBank (NASDAQ:TOWN)
TowneBank is a leading dividend payer. It pays a dividend yield of 3.99%, putting its dividend yield in the top 25% of dividend-paying stocks. TowneBank has been increasing its dividend for 8 years. The dividend payout ratio of TowneBank is 37.31%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TowneBank will have a dividend payout ratio of 61.54% next year. This indicates that TowneBank will be able to sustain or increase its dividend.
Insiders buying/selling: TowneBank (NASDAQ:TOWN)
In the past three months, TowneBank insiders have not sold or bought any company stock. 47.64% of the stock of TowneBank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of TowneBank (NASDAQ:TOWN
Earnings for TowneBank are expected to decrease by -29.94% in the coming year, from $1.67 to $1.17 per share. The P/E ratio of TowneBank is 9.97, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.48. The P/E ratio of TowneBank is 9.97, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.17. TowneBank has a P/B Ratio of 0.86. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.
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