Keefe Bruyette upgraded Towne Bank from Mkt Perform to Outperform and set a new price target of $40.00 from $35.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 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 $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
Keefe Bruyette upgraded Towne Bank from Mkt Perform to Outperform and set a new price target of $40.00 from $35.00 previously
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
SUFFOLK, Va. and HAMPTON, Va., April 03, 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 ("OPNB"), today announced the signing of a definitive agreement and plan of merger pursuant to which TowneBank will acquire Old Point and OPNB. The proposed transaction will enhance TowneBank's position in the Hampton Roads MSA with the addition of a high-quality core deposit franchise. Pro forma for TowneBank's recently closed acquisition of Village Bank and Trust Financial Corp. and the proposed acquisition of Old Point, the combined company would
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
SUFFOLK, Va., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ:TOWN) announced today that its Board of Directors declared its first-quarter shareholder cash dividend of $0.25 per common share payable on April 11, 2025, to shareholders of record on March 31, 2025. 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 banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, TowneBank values all employees and members b
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., April 14, 2022 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) announced today that three long-serving members of its Board of Directors, E. Lee Baynor, Thomas C. Broyles and F. Lewis Wood, will not stand for re-election and will transition to Emeritus status following the 2022 Annual Meeting of Shareholders. "These founding directors have made an extraordinary contribution to the growth and success of TowneBank," said G. Robert Aston, Jr., TowneBank's Executive Chairman. "And while they will be stepping down as corporate directors, they will certainly not be stepping back as they will continue to provide their wise counsel and unwavering support in the years ahead through their