In a report released today, William Wallace from Raymond James maintained a Hold rating on TowneBank (TOWN). The company’s shares closed last Thursday at $30.57, close to its 52-week high of $32.78.
According to TipRanks.com, Wallace is a 5-star analyst with an average return of 28.5% and a 73.8% success rate. Wallace covers the Financial sector, focusing on stocks such as American National Bankshares, Meridian Interstate Bancorp, and Atlantic Capital Bancshares.
Currently, the analyst consensus on TowneBank is a Moderate Buy with an average price target of $28.00.
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The company has a one-year high of $32.78 and a one-year low of $15.14. Currently, TowneBank has an average volume of 162.2K.
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TowneBank provides retail and commercial banking services to the individuals and small & medium size businesses. It offers full range of banking and related financial services. It operates through the following segments: Banking, Realty, and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. It also includes commercial mortgage brokerage and a variety of investment & asset management services. The Realty segment provides residential real estate services and originations of a variety of mortgage loans. It also provides resort property management and residential and commercial title insurance. The Insurance segment provides individual and business members with a wide array of insurance products, including life, property, casualty, travel, and vehicle insurance, as well as employee and group benefits. The company was founded by R. Scott Morgan on September 3, 1998 and is headquartered in Portsmouth, VA.
