Piper Sandler upgraded Towne Bank from Neutral to Overweight and set a new price target of $28.00 from $25.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 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 |
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., April 01, 2025 (GLOBE NEWSWIRE) -- TowneBank (NASDAQ:TOWN) announced today the completion of its merger with Village Bank and Trust Financial Corp. and its subsidiary, Village Bank. The merger enhances TowneBank's continued and growing presence in the Richmond MSA while providing opportunity for diverse revenue synergies with Towne Financial Services Group and strategic capital deployment. The merger was announced in September 2024 and received overwhelming support at the special meeting of Village shareholders held in December 2024. "Our TowneBank family is delighted to have our long-time friends at Village Bank join us," said G. Robert Aston, Jr., Executive Chairman of 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., 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
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., Jan. 22, 2025 (GLOBE NEWSWIRE) -- TowneBank (the "Company" or "Towne") (NASDAQ:TOWN) today reported financial results for the full year and fourth quarter ended December 31, 2024. For the year ended December 31, 2024, earnings were $161.76 million, or $2.15 per diluted share, compared to $153.72 million, or $2.06 per diluted share, for the year ended December 31, 2023. Excluding certain items affecting comparability, core earnings (non-GAAP) for 2024 were $163.65 million, or $2.18 per diluted share, compared to $160.94 million, or $2.16 per diluted share, for 2023. Earnings in the fourth quarter of 2024 were $41.27 million, or $0.55 per diluted share, compared to fourth qu
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
Stephens initiated coverage of Towne Bank with a rating of Equal-Weight and set a new price target of $23.00