TowneBank (NASDAQ:TOWN) Rating Increased to Hold at ValuEngine
Other equities analysts have also issued reports about the company. BidaskClub lowered YY from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 23rd. Piper Jaffray Companies started coverage on TowneBank in a report on Tuesday, July 16th. They issued a “neutral” rating and a $27.00 price target for the company. Finally, Zacks Investment Research raised Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Saturday, July 13th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.67.
Shares of TowneBank stock traded down $0.32 during trading hours on Monday, reaching $27.81. The company had a trading volume of 81,879 shares, compared to its average volume of 112,896. TowneBank has a one year low of $22.88 and a one year high of $33.20. The business has a fifty day moving average price of $27.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 14.05 and a beta of 1.09.
Large investors have recently bought and sold shares of the stock. Quantamental Technologies LLC boosted its stake in TowneBank by 118.9% during the first quarter. Quantamental Technologies LLC now owns 1,237 shares of the bank’s stock valued at $31,000 after buying an additional 672 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in TowneBank during the second quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in TowneBank during the first quarter valued at $33,000. Denali Advisors LLC bought a new stake in TowneBank during the first quarter valued at $131,000. Finally, Meridian Wealth Management LLC bought a new stake in TowneBank during the first quarter valued at $147,000. 46.05% of the stock is owned by institutional investors.
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, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts, and negotiable order of withdrawal accounts.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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