Overview
TowneBank Q3 revenue misses analyst expectations, adjusted EPS beats estimates
Total revenue increased 23.58% yr/yr, driven by acquisitions and partnerships
Company completed acquisition of Old Point Financial, boosting loans and deposits
Outlook
Company expects to finalize Dogwood partnership and integrate Old Point systems by Q1 2026
Result Drivers
ACQUISITIONS - Completion of Old Point acquisition significantly boosted loans and deposits
REVENUE GROWTH - Total revenue increased 23.58% yr/yr, driven by acquisitions and partnerships
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$215.66 mln
$217.80 mln (4 Analysts)
Q3 Adjusted EPS
Beat
$0.83
$0.78 (4 Analysts)
Q3 EPS
$0.51
Q3 Net Income
$39.29 mln
Q3 Credit Loss Allowance
$149.17 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for TowneBank is $41.50, about 19.2% above its October 21 closing price of $33.55
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nGNX9DknC9
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
