TOWN
TowneBank (NYSE: TOWN) reported net income of $193.
Article Summary
HOLD- TowneBank (NYSE: TOWN) reported net income of $193.2 million in its second quarter, with earnings adjusted for one-time gains and costs of $2.09 per share.
- The community bank posted revenue net of interest expense of $247 million, missing Street forecasts, while net revenue excluding interest expense was $321 million, also below expectations.
- Townebank Portsmouth VA posted net income adjusted for gains of 78 cents per share and revenue adjusted for interest expenses of $246 million, below expectations of $300 million.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 14.0% | 25% | 50.0 ptsMeets Minimum (14.0%) - Passes screener |
| EPS Growth Next 5Y ? | 0.0% | 25% | 10.0 ptsVery Weak (0.0%) - Minimal expectations |
| Target Price Upside ? | 8.8% | 20% | 35.0 ptsBelow Screener (8.8%) - Target: $39.25 vs Current: $36.09 |
| Gross Margin % ? | — | 15% | 40.0 ptsNo Gross Margin Data |
| Drawdown from 52-Wk High ? | -3.0% | 15% | 20.0 ptsBarely a Dip (-3.0%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About TOWN
- TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals in the United States.
- It operates through four segments: Banking, Mortgage, Resort Vacation Management, and Insurance.
- The company provides treasury solutions and deposit products, including checking accounts, savings accounts, and various types of time deposit services, such as daily money market accounts and long-term certificates of deposit; transaction accounts and certificates of deposit; and retirement account services comprising individual retirement accounts.
- It also offers safe deposit boxes, treasury management services, direct deposit of payroll and social security checks, and automatic drafts for various accounts; secured and unsecured loans for financing automobiles, home improvements, education, and personal investments; and secured and unsecured loans for working capital, business expansion, equipment and machinery purchases, fixed- and floating-rate mortgage loans, and larger commercial loans, as well as real estate acquisition, development, and construction loans.
- In addition, the company can act as a qualified intermediary assisting investors; provides other financial services, such as financial, retirement, and estate planning; and offers assistance on a various investment option, including alternative investments, annuities, margin accounts, convertible bonds, and pension and profit-sharing plans.
- Further, it provides residential mortgage loans; residential resort property management; property, casualty, life, and health insurance products for businesses, individuals, and community organizations; and commercial and consumer insurance products and financial services, as well as individual and group life and health insurance.
- Additionally, the company offers online banking, mobile banking, and on-call banking.
- TowneBank was incorporated in 1998 and is based in Portsmouth, Virginia.