TowneBank (NASDAQ:TOWN – Get Free Report) posted its earnings results on Wednesday. The bank reported $0.58 earnings per share 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 period last year, the business posted $0.60 EPS.
TowneBank Stock Performance
Shares of TowneBank stock traded down $1.07 on Thursday, reaching $32.90. The company had a trading volume of 368,235 shares, compared to its average volume of 251,070. The firm’s 50 day moving average price is $33.64 and its two-hundred day moving average price is $30.12. The firm has a market cap of $2.47 billion, a PE ratio of 16.29 and a beta of 0.89. TowneBank has a 52-week low of $21.66 and a 52-week high of $35.74.
TowneBank Dividend Announcement
The business 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 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Monday, September 30th. TowneBank’s dividend payout ratio (DPR) is 49.51%.
Wall Street Analyst Weigh In
View Our Latest 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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