TowneBank reports results for the quarter ended in January - Earnings Summary

TowneBank

25/07/2024 14:31

* TowneBank  TOWN.OQ  reported quarterly adjusted earnings
of 57
cents​​ per share for the quarter ended in January, higher than
the same quarter last year, when the company reported EPS of 56
cents.  The mean expectation of four analysts for the quarter
was for earnings of 48 cents per share. Wall Street expected
results to range from 44 cents to 53 cents per share.
    * Revenue fell 3.6% to $174.97 million from a year ago;
analysts
expected $172.20 million. 
    * TowneBank's reported EPS for the quarter was 57 cents​.
    * The company reported quarterly net income of $42.86
million.
    * TowneBank shares had risen by 17.5% this quarter and
gained 7.6%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for TowneBank is
$30.50 
This summary was machine generated from LSEG data July 25 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.48           0.57           Beat
 Dec. 31 2023      0.48           0.48           Met
 Dec. 31 2023      0.46           0.44           Missed
 Sep. 30 2023      0.52           0.60           Beat