TowneBank Posts 3Q EPS of 88 Cents
TOWN is trading near its 52-week low of $31.91 (13% above the low).
Summary
TowneBank reported third-quarter earnings of 88 cents a share, per Dow Jones Newswires, and core EPS of $0.91, on revenue of $257.9 million. The headline gives no prior-year comparison or consensus estimate, so the beat/miss picture isn't clear from this alone. It lands three weeks after the bank announced a roughly $154 million deal to acquire Blueharbor Bank, a North Carolina institution — a transaction that will shape the balance sheet and integration costs in coming quarters. Traders will need the full release and call details to judge whether 88 cents clears expectations and how the Blueharbor deal affects capital.
At the time of this announcement, TOWN was trading at $36.09 on NASDAQ in the Finance sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $31.91 to $39.03. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.