Hovde Group initiated coverage of Towne Bank with a rating of Market Perform and set a new price target of $27.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/24/2025 | $39.00 → $41.00 | Outperform | Hovde Group |
| 4/28/2025 | $38.00 → $39.00 | Outperform | Hovde Group |
| 4/4/2025 | $39.00 → $38.00 | Market Perform → Outperform | Hovde Group |
| 10/2/2024 | $35.00 → $40.00 | Mkt Perform → Outperform | Keefe Bruyette |
| 9/13/2023 | $23.00 | Equal-Weight | Stephens |
| 8/11/2023 | $27.00 | Market Perform | Hovde Group |
| 3/3/2023 | $34.00 | Outperform | Raymond James |
| 2/17/2023 | $34.00 | Overweight | Piper Sandler |
Hovde Group reiterated coverage of Towne Bank with a rating of Outperform and set a new price target of $41.00 from $39.00 previously
Hovde Group reiterated coverage of Towne Bank with a rating of Outperform and set a new price target of $39.00 from $38.00 previously
Hovde Group upgraded Towne Bank from Market Perform to Outperform and set a new price target of $38.00 from $39.00 previously
SUFFOLK, Va. and RALEIGH, N.C., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Raleigh based Dogwood State Bank (OTCQX:DSBX) ("Dogwood"), today announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire Dogwood State Bank. The proposed transaction substantially enhances TowneBank's strategic journey down the fast-growing Interstate 85 corridor from Richmond, Virginia to Greenville and the upstate region of South Carolina. The bank's current market position will be expanded in Raleigh, Greensboro-Winston Salem, Greenville, and Charlotte, North Carolina. Additionally, the merger will increase the bank's footprint along t
SUFFOLK, Va. and HAMPTON, Va., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Old Point Financial Corporation (NASDAQCM: OPOF) ("Old Point"), the parent company of The Old Point National Bank of Phoebus ("Old Point National Bank"), today announced that they had received regulatory approval from the Federal Deposit Insurance Corporation (the "FDIC") and the Bureau of Financial Institutions of the Virginia State Corporation Commission to complete the proposed merger of Old Point and Old Point National Bank with TowneBank. All regulatory approvals required for the transaction have now been received. The merger is expected to close on or about September 1, 20
SUFFOLK, Va. and HAMPTON, Va., Aug. 14, 2025 /PRNewswire/ -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Old Point Financial Corporation (NASDAQCM: OPOF) ("Old Point"), the parent company of The Old Point National Bank of Phoebus ("Old Point National Bank"), today announced that they had received regulatory approval from the Federal Deposit Insurance Corporation (the "FDIC") and the Bureau of Financial Institutions of the Virginia State Corporation Commission to complete the proposed merger of Old Point and Old Point National Bank with TowneBank. All regulatory approvals required for the transaction have now been received. The merger is expected to close on or about September 1, 2025, su
SUFFOLK, Va. and RALEIGH, N.C., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) and Raleigh based Dogwood State Bank (OTCQX:DSBX) ("Dogwood"), today announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire Dogwood State Bank. The proposed transaction substantially enhances TowneBank's strategic journey down the fast-growing Interstate 85 corridor from Richmond, Virginia to Greenville and the upstate region of South Carolina. The bank's current market position will be expanded in Raleigh, Greensboro-Winston Salem, Greenville, and Charlotte, North Carolina. Additionally, the merger will increase the bank's footprint along t
SUFFOLK, Va., March 27, 2024 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) announced today that two long-serving members of its Board of Directors, Jacqueline B. Amato and Bradford L. Cherry, will step down from the Board and move to Emeritus status following the 2024 Annual Meeting of Shareholders. Cherry is a founding director of TowneBank, having served as a director since TowneBank's opening in 1999. Amato joined TowneBank in 2000 to lead its successful entry into the residential mortgage lending business and was appointed to the Board that same year. "Jackie and Brad have made an extraordinary contribution to the growth and success of TowneBank," said G. Robert Aston, Jr., TowneBan
SUFFOLK, Va., Nov. 23, 2022 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) announced today that Brad E. Schwartz, Towne's president and chief operating officer, will retire from the Company on December 31, 2022. Mr. Schwartz also plans to step down as a director of the Company when his current term expires at the 2023 annual meeting of shareholders. Following his retirement at year end, Mr. Schwartz will serve as a senior advisor through 2025 to ensure a smooth transition of his roles and responsibilities. Mr. Schwartz joined Towne in 2016 as chief operating officer with the merger of Monarch Bank, where he served as chief executive officer since 2009. Mr. Schwartz
Suffolk, Va., July 23, 2025 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended June 30, 2025 of $38.84 million, or $0.51 per diluted share, compared to $42.86 million, or $0.57 per diluted share, for the quarter ended June 30, 2024. Excluding certain items affecting comparability, core earnings (non-GAAP) were $61.34 million, or $0.81 per diluted share, in the current quarter compared to $42.56 million, or $0.57 per diluted share, for the quarter ended June 30, 2024. "Our Company delivered a record revenue quarter highlighting the strength of our Main Street banking strategy. Organic loan growth during the second quarter cl
SUFFOLK, Va., May 14, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of $0.27 per common share payable on July 11, 2025, to shareholders of record on June 27, 2025. The quarterly common stock cash dividend of $0.27 per common share, or $1.08 per common share on an annual basis, is an 8% increase from the previous dividend rate. The amount and declaration of future cash dividends are subject to Board of Directors' approval in addition to regulatory restrictions. About TowneBank: Founded in 1999, TowneBank is a company built on relationships, offering a full range of ban
SUFFOLK, Va., April 23, 2025 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported earnings for the quarter ended March 31, 2025 of $50.59 million, or $0.67 per diluted share, compared to $34.69 million, or $0.46 per diluted share, for the quarter ended March 31, 2024. Excluding certain items affecting comparability, core earnings (non-GAAP) were $50.98 million, or $0.68 per diluted share, in the current quarter compared to $36.27 million, or $0.48 per diluted share, for the quarter ended March 31, 2024. "Our Company had a very strong start to the year earning $0.67 per share and delivering nearly 7% annualized loan growth. Our continued focus on measured g