Shares of TowneBank (NASDAQ:TOWN) have been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $27.00.

Several brokerages have recently weighed in on TOWN. Zacks Investment Research upgraded TowneBank from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of TowneBank from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. BidaskClub upgraded shares of TowneBank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Piper Jaffray Companies assumed coverage on shares of TowneBank in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $27.00 price target for the company.

TOWN stock traded down $0.72 during trading hours on Friday, reaching $26.23. 124,100 shares of the stock were exchanged, compared to its average volume of 131,187. The company has a market cap of $1.93 billion, a P/E ratio of 13.25 and a beta of 1.07. The firm’s 50-day simple moving average is $27.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.02. TowneBank has a 12 month low of $22.88 and a 12 month high of $33.20.

TowneBank (NASDAQ:TOWN) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.04). The company had revenue of $144.54 million during the quarter, compared to the consensus estimate of $140.67 million. TowneBank had a net margin of 21.63% and a return on equity of 9.16%. Equities analysts expect that TowneBank will post 1.87 earnings per share for the current year.

A number of large investors have recently made changes to their positions in TOWN. Bank of America Corp DE increased its stake in TowneBank by 4.5% in the fourth quarter. Bank of America Corp DE now owns 224,476 shares of the bank’s stock valued at $5,376,000 after acquiring an additional 9,677 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in TowneBank by 106.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 26,454 shares of the bank’s stock valued at $634,000 after acquiring an additional 13,640 shares during the last quarter. Legal & General Group Plc increased its stake in TowneBank by 34.5% in the fourth quarter. Legal & General Group Plc now owns 30,372 shares of the bank’s stock valued at $728,000 after acquiring an additional 7,783 shares during the last quarter. Norges Bank bought a new position in TowneBank in the fourth quarter valued at approximately $11,789,000. Finally, Geode Capital Management LLC increased its stake in TowneBank by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 790,500 shares of the bank’s stock valued at $18,932,000 after acquiring an additional 65,244 shares during the last quarter. 46.16% of the stock is currently owned by institutional investors and hedge funds.

About TowneBank

TowneBank provides retail and commercial banking services for small- and medium-size businesses, professionals, and individuals. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts, and negotiable order of withdrawal accounts.

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