Short interest for Towne Bank gives investors a sense of the degree to which investors are betting on the decline of Towne Bank's stock. Short interest data is updated every two weeks.

Towne Bank Stock (NASDAQ:TOWN), Short Interest Report

Towne Bank

Towne Bank is a financial services company that places special emphasis on serving the financial needs of individuals, commercial enterprises, and professionals, offering retail and commercial banking services to numerous markets in Virginia and North Carolina. The company has three reportable segments: Banking Segment provides loan and deposit services to retail and commercial customers and provides commercial mortgage brokerage services and investment and asset management services, and the Realty Segment provides residential real estate services and mortgage loans. It also provides resort property management and residential and commercial title insurance, and Insurance Segment provides provide a wide array of insurance products, including property, casualty, life, and health insurance.

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ZION

Shares of several bank stocks are trading lower after January CPI data showed a greater-than-expected rise in inflation, which increased uncertainty surrounding future rate cuts.

<p>Towne Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOWN#NASDAQ">TOWN</a>) reported quarterly Adj earnings of $0.42 per share which missed the analyst consensus estimate of $0.46 by 8.7 percent. This is a 35.38 percent decrease over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $155.55 million which missed the analyst consensus estimate of $164.67 million by 5.54 percent. This is a 11.27 percent decrease over sales of $175.31 million the same period last year.</p>


Earnings

Towne Bank Q4 Adj EPS $0.42 Misses $0.46 Estimate, Sales $155.55M Miss $164.67M Estimate

<p>Raymond James  analyst Steve Moss   maintains Towne Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOWN#NASDAQ">TOWN</a>) with a Outperform and raises the price target from $28 to $32.</p>


Price Target

Analyst Ratings

Raymond James Maintains Outperform on Towne Bank, Raises Price Target to $32

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Shares of bank stocks are trading higher amid overall market strength after the Fed left rates unchanged and most Fed officials expect rate cuts in 2024-2026.

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METROCITY BANKSHARES INC by MetroCity Bankshares Inc.

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Shares of broader financial stocks are trading higher amid overall market strength after October CPI data showed softer-than-expected inflation.

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Towne Bank Stock (NASDAQ:TOWN), Short Interest Report

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