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

TowneBank

25/04/2024 14:31

* TowneBank  TOWN.OQ  reported quarterly adjusted earnings
of 48
cents​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of 52
cents.  The mean expectation of five analysts for the quarter
was for earnings of 48 cents per share. Wall Street expected
results to range from 46 cents to 53 cents per share.
    * Revenue fell 9.3% to $167.10 million from a year ago;
analysts
expected $169.69 million. 
    * TowneBank's reported EPS for the quarter was 46 cents​.
    * The company reported quarterly net income of $34.69
million.
    * TowneBank shares had fallen by 1.1% this quarter and
lost 6.8%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "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
$31.00 
This summary was machine generated from LSEG data April 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
 Mar. 31 2024      0.48           0.48           Met
 Dec. 31 2023      0.46           0.44           Missed
 Sep. 30 2023      0.52           0.60           Beat
 Jun. 30 2023      0.57           0.56           Missed