TowneBank (NASDAQ:TOWN) Given New $39.00 Price Target at Hovde Group

Market Beat
2025.04.30 12:34
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Hovde Group has raised its price target for TowneBank (NASDAQ:TOWN) from $38.00 to $39.00, maintaining an "outperform" rating. This new target suggests an 18.76% upside from the previous close. Additionally, Stephens has reaffirmed an "equal weight" rating with a $41.00 price objective. TowneBank's shares opened at $32.84, with a market cap of $2.46 billion and a PE ratio of 15.27. The bank reported $0.68 EPS for the last quarter, exceeding estimates, and has a return on equity of 7.77%.

TowneBank (NASDAQ:TOWN - Get Free Report) had its target price boosted by research analysts at Hovde Group from $38.00 to $39.00 in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage currently has an "outperform" rating on the bank's stock. Hovde Group's price target indicates a potential upside of 18.76% from the company's previous close.

Separately, Stephens reaffirmed an "equal weight" rating and issued a $41.00 price objective on shares of TowneBank in a research report on Thursday, January 23rd.

Get Our Latest Stock Analysis on TOWN

TowneBank Price Performance

Shares of NASDAQ:TOWN opened at $32.84 on Monday. The firm has a market capitalization of $2.46 billion, a PE ratio of 15.27 and a beta of 0.79. TowneBank has a 1 year low of $25.70 and a 1 year high of $38.28. The business's 50 day moving average price is $33.73 and its 200-day moving average price is $34.62.

TowneBank (NASDAQ:TOWN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. TowneBank had a return on equity of 7.77% and a net margin of 15.77%. The company had revenue of $190.04 million during the quarter, compared to analysts' expectations of $191.29 million. As a group, analysts expect that TowneBank will post 2.6 earnings per share for the current year.

Institutional Trading of TowneBank

Several hedge funds have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in TowneBank during the 4th quarter worth about $28,000. Salem Investment Counselors Inc. purchased a new position in TowneBank during the fourth quarter valued at approximately $34,000. Blue Trust Inc. raised its holdings in shares of TowneBank by 258.5% during the 4th quarter. Blue Trust Inc. now owns 1,434 shares of the bank's stock valued at $47,000 after buying an additional 1,034 shares in the last quarter. Sterling Capital Management LLC grew its position in TowneBank by 807.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,215 shares of the bank's stock worth $75,000 after acquiring an additional 1,971 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in TowneBank in the fourth quarter worth $82,000. 55.99% of the stock is owned by institutional investors and hedge funds.

About TowneBank

(Get Free Report)

TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.

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