Published On: Fri, Sep 23rd, 2016

TowneBank Declares Quarterly Dividend of $0.13 (town)

TowneBank (NASDAQ:town) announced a quarterly dividend on Thursday, August 25th. Shareholders of record on Friday, September 30th will be given a dividend of 0.13 per share on Wednesday, October 12th. This represents a $0.52 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, September 28th.
Separately, Keefe, Bruyette & Woods upped their price objective on shares of TowneBank from $22.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, July 29th.
Shares of TowneBank (NASDAQ:TOWN) opened at 23.72 on Friday. The company’s 50 day moving average is $23.39 and its 200 day moving average is $21.55. The company has a market capitalization of $1.46 billion, a P/E ratio of 22.55 and a beta of 0.86. TowneBank has a 12-month low of $16.50 and a 12-month high of $23.97.

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TowneBank (NASDAQ:TOWN) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Analysts expect that TowneBank will post $1.18 earnings per share for the current fiscal year.
TowneBank Company Profile
TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.

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