Equities analysts expect TowneBank (NASDAQ:TOWN) to report sales of $138.83 million for the current quarter, Zacks reports. Two analysts have made estimates for TowneBank’s earnings, with estimates ranging from $137.50 million to $140.16 million. TowneBank posted sales of $115.34 million during the same quarter last year, which suggests a positive year-over-year growth rate of 20.4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that TowneBank will report full-year sales of $541.28 million for the current fiscal year, with estimates ranging from $538.60 million to $543.95 million. For the next fiscal year, analysts forecast that the company will post sales of $572.65 million, with estimates ranging from $572.20 million to $573.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TowneBank.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings results on Friday, July 27th. The bank reported $0.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The business had revenue of $137.06 million during the quarter, compared to analyst estimates of $133.65 million. TowneBank had a net margin of 18.11% and a return on equity of 9.46%.

Several analysts have commented on the stock. ValuEngine lowered shares of TowneBank from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. BidaskClub lowered shares of TowneBank from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Brean Capital reissued a “hold” rating on shares of TowneBank in a research report on Tuesday, July 10th. Finally, Zacks Investment Research lowered shares of TowneBank from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. TowneBank currently has an average rating of “Hold” and an average price target of $34.50.

Shares of TOWN stock traded down $0.16 during mid-day trading on Friday, hitting $30.35. 86,670 shares of the stock traded hands, compared to its average volume of 147,342. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 19.46 and a beta of 0.90. TowneBank has a 52-week low of $27.85 and a 52-week high of $35.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.97 and a current ratio of 1.01.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 27th. TowneBank’s payout ratio is 41.03%.

Several hedge funds have recently added to or reduced their stakes in TOWN. Northern Trust Corp raised its position in shares of TowneBank by 63.4% in the 2nd quarter. Northern Trust Corp now owns 1,236,785 shares of the bank’s stock valued at $39,700,000 after purchasing an additional 479,948 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of TowneBank by 112.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 802,478 shares of the bank’s stock valued at $25,760,000 after purchasing an additional 425,535 shares during the last quarter. California Public Employees Retirement System raised its position in shares of TowneBank by 2.5% in the 2nd quarter. California Public Employees Retirement System now owns 122,104 shares of the bank’s stock valued at $3,920,000 after purchasing an additional 2,959 shares during the last quarter. Millennium Management LLC raised its position in shares of TowneBank by 328.2% in the 2nd quarter. Millennium Management LLC now owns 372,073 shares of the bank’s stock valued at $11,944,000 after purchasing an additional 285,178 shares during the last quarter. Finally, Zebra Capital Management LLC purchased a new position in shares of TowneBank in the 2nd quarter valued at approximately $487,000. 44.17% of the stock is owned by institutional investors and hedge funds.

TowneBank Company Profile

TowneBank provides retail and commercial banking services for small- and medium-size businesses, professionals, and individuals. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including demand deposits, negotiable order of withdrawal accounts, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.

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