TowneBank (NASDAQ:TOWN – Get Free Report) posted its quarterly earnings data on Wednesday. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $0.60 EPS.
TowneBank Stock Performance
Shares of NASDAQ:TOWN traded down $1.07 during midday trading on Thursday, hitting $32.90. The company’s stock had a trading volume of 368,235 shares, compared to its average volume of 251,070. The business’s 50 day simple moving average is $33.64 and its 200 day simple moving average is $30.12. The company has a market cap of $2.47 billion, a P/E ratio of 16.29 and a beta of 0.89. TowneBank has a 12-month low of $21.66 and a 12-month high of $35.74.
TowneBank Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, September 30th. TowneBank’s dividend payout ratio is currently 49.51%.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on TOWN
About TowneBank
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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