November 18, 2016 - By Louis Casey · 0 Comments
The stock of Townebank (NASDAQ:TOWN) registered an increase of 4.44% in short interest. TOWN’s total short interest was 1.42M shares in November as published by FINRA. Its up 4.44% from 1.36 million shares, reported previously. With 122,200 shares average volume, it will take short sellers 12 days to cover their TOWN’s short positions. The short interest to Townebank’s float is 2.55%. The stock increased 1.67% or $0.5 during the last trading session, hitting $30.45. TowneBank (NASDAQ:TOWN) has risen 49.41% since April 18, 2016 and is uptrending. It has outperformed by 44.98% the S&P500.
TowneBank is a community bank. The Bank offers personal banking services and business banking services. The company has a market cap of $1.93 billion. The Bank operates through three divisions: Banking, Realty and Insurance. It has a 27.7 P/E ratio. The Banking segment provides loan and deposit services to retail and commercial customers.
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. Bruyette & Woods” initiated the stock with “Mkt Perform” rating in Monday, August 24 report. KBW initiated it with “” rating and $19 target price in Monday, August 24 report.
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.
More news for TowneBank (NASDAQ:TOWN) were recently published by: Globenewswire.com, which released: “TowneBank Completes Merger With Monarch Financial Holdings, Inc.” on June 27, 2016. Barrons.com‘s article titled: “TowneBank and Seacoast: Small Banks With Big Potential” and published on February 06, 2016 is yet another important article.
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By Louis Casey