Stock Track | TowneBank Shares Plummet 5.8% Despite EPS Beat on Mixed Q3 Results

Stock Track

2024/10/25

TowneBank (TOWN) shares plummeted 5.8% on Wednesday, October 24, after the regional bank reported mixed results for the third quarter of 2024.

While the company's earnings per share (EPS) of $0.58 beat analysts' expectations of $0.56, its revenue of $174.52 million fell short of the projected $180.35 million. The bank reported net income of $42.95 million for the quarter.

Analysts had a mixed reaction to the results, with two analysts revising their earnings estimates downward in the last 30 days. However, the current average analyst rating on the stock remains a "buy," with a median 12-month price target of $36.50.

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The bank reported net income of $42.95 million for the quarter.</p>\n\n<p>Analysts had a mixed reaction to the results, with two analysts revising their earnings estimates downward in the last 30 days. However, the current average analyst rating on the stock remains a \"buy,\" with a median 12-month price target of $36.50.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TOWN","symbol_name":"Towne Bank","start_time":0,"source_url":"","article_id":"1153743058","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1153743058","pubTimestamp":1729786702,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"TowneBank  shares plummeted 5.8% on Wednesday, October 24, after the regional bank reported mixed results for the third quarter of 2024.While the company's earnings per share  of $0.58 beat analysts' expectations of $0.56, its revenue of $174.52 million fell short of the projected $180.35 million. 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