The stock of TowneBank (NASDAQ:TOWN) is a huge mover today! About 236,863 shares traded hands or 55.22% up from the average. TowneBank (NASDAQ:TOWN) has risen 36.20% since April 8, 2016 and is uptrending. It has outperformed by 30.55% the S&P500.
The move comes after 8 months positive chart setup for the $1.81B company. It was reported on Nov, 10 by Barchart.com. We have $40.09 PT which if reached, will make NASDAQ:TOWN worth $796.40 million more.
TowneBank (NASDAQ:TOWN) Ratings Coverage
Out of 2 analysts covering Towne Bank (NASDAQ:TOWN), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Towne Bank has been the topic of 5 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm earned “” rating on Monday, August 24 by KBW. Bruyette & Woods” initiated the shares of TOWN in a report on Monday, August 24 with “Mkt Perform” rating.
According to Zacks Investment Research, “Headquartered in Portsmouth, Virginia, TowneBank is now Virginia’s top community bank operating eighteen banking offices in Chesapeake, Hampton, Portsmouth, Newport News, Virginia Beach, Norfolk, Williamsburg and York County. Towne also offers a full range of financial services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Insurance Agency, TFA Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage and GSH Real Estate Corporation. Local decision-making is a hallmark of its hometown banking strategy that is delivered through the leadership of each group’s President and Board of Directors.”
More news for TowneBank (NASDAQ:TOWN) were recently published by: Barrons.com, which released: “TowneBank and Seacoast: Small Banks With Big Potential” on February 06, 2016. Globenewswire.com‘s article titled: “TowneBank Completes Merger With Monarch Financial Holdings, Inc.” and published on June 27, 2016 is yet another important article.
TOWN Company Profile
TowneBank, incorporated on September 3, 1998, is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three divisions: Banking, Realty and Insurance. The Bank provides checking accounts, cards, savings, money markets and certificate of deposits (CDs), mobile banking, financial management software, private banking and switch kit. The Bank also offers auto loans, home equity loans, construction loans, lot loans, recreational vehicles, mortgage loans, land acquisition loans, construction loans, development Loans, and personal loans and lines of credit. The Bank provides investing and retirement loans, insurance loans and real estate loans. The Company’s treasury services include receivables, liquidity and sweep accounts, payables and reporting. The Bank operates approximately 40 banking offices serving Chesapeake, Chesterfield County, Glen Allen, Hampton, James City County, Mechanicsville, Newport News, Norfolk, Portsmouth, Richmond, Suffolk, Virginia Beach, Williamsburg, and York County in Virginia, along with Moyock, Grandy, Camden County, Southern Shores, Corolla and Nags Head in North Carolina. The Bank offers a range of financial services through its banking and non-banking subsidiaries.
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