TowneBank reports results for the quarter ended in September 30 - Earnings Summary

TowneBank

24/10/2024 16:59

* TowneBank  TOWN.OQ  reported quarterly adjusted earnings
of 58
cents​​ per share for the quarter ended September 30, lower than
the same quarter last year, when the company reported EPS of 60
cents.  The mean expectation of four analysts for the quarter
was for earnings of 56 cents per share. Wall Street expected
results to range from 52 cents to 59 cents per share.
    * Revenue rose 1% to $174.52 million from a year ago;
analysts
expected $180.35 million. 
    * TowneBank's reported EPS for the quarter was 57 cents​.
    * The company reported quarterly net income of $42.95
million.
    * TowneBank shares had risen by 2.8% this quarter and
gained 14.1%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.2%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "hold."

Wall Street's median 12-month price target for TowneBank is
$36.50 
This summary was machine generated from LSEG data October 24 at
03:59 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
 Sep. 30 2024      0.56           0.58           Beat
 Jun. 30 2024      0.48           0.57           Beat
 Mar. 31 2024      0.48           0.48           Met
 Dec. 31 2023      0.46           0.44           Missed