TowneBank (NASDAQ:TOWN – Get Free Report) released its earnings results on Wednesday. The bank reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02, Briefing.com reports. TowneBank had a net margin of 15.33% and a return on equity of 7.56%. During the same quarter in the prior year, the firm posted $0.60 earnings per share.
TowneBank Stock Down 3.1 %
NASDAQ:TOWN opened at $32.90 on Friday. TowneBank has a twelve month low of $21.66 and a twelve month high of $35.74. The company has a fifty day moving average of $33.64 and a 200-day moving average of $30.12. The firm has a market capitalization of $2.47 billion, a P/E ratio of 16.37 and a beta of 0.89.
TowneBank Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, September 30th. TowneBank’s dividend payout ratio (DPR) is 49.75%.
Wall Street Analyst Weigh In
Check Out Our Latest Stock 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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