TowneBank (TOWN - Free Report) reported $167.1 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.3%. EPS of $0.48 for the same period compares to $0.62 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $168.33 million, representing a surprise of -0.73%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.48.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how TowneBank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin-fully tax equivalent: 2.8% versus 2.9% estimated by two analysts on average.
- Average Earning assets: $15.27 billion versus $15.20 billion estimated by two analysts on average.
- Net charge-offs to average loans: 0% versus 0% estimated by two analysts on average.
- Efficiency Ratio: 75.2% versus the two-analyst average estimate of 71.9%.
- Residential mortgage banking income, net: $10.48 million versus $8.64 million estimated by two analysts on average.
- Insurance commissions and other title fees and income, net: $25.54 million versus the two-analyst average estimate of $24.33 million.
- Credit card merchant fees, net: $1.55 million compared to the $1.62 million average estimate based on two analysts.
- Service charges on deposit accounts: $3.06 million versus the two-analyst average estimate of $2.97 million.
- Net interest income (tax-equivalent basis): $104.32 million versus the two-analyst average estimate of $108.48 million.
- Other income: $4.57 million compared to the $5.73 million average estimate based on two analysts.
- Total Noninterest Income: $63.88 million versus the two-analyst average estimate of $59.85 million.
- Bank owned life insurance: $1.84 million versus $2.01 million estimated by two analysts on average.
View all Key Company Metrics for TowneBank here>>>Shares of TowneBank have returned +2.7% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
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TowneBank (TOWN - Free Report) reported $167.1 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.3%. EPS of $0.48 for the same period compares to $0.62 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $168.33 million, representing a surprise of -0.73%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.48.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how TowneBank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin-fully tax equivalent: 2.8% versus 2.9% estimated by two analysts on average.
- Average Earning assets: $15.27 billion versus $15.20 billion estimated by two analysts on average.
- Net charge-offs to average loans: 0% versus 0% estimated by two analysts on average.
- Efficiency Ratio: 75.2% versus the two-analyst average estimate of 71.9%.
- Residential mortgage banking income, net: $10.48 million versus $8.64 million estimated by two analysts on average.
- Insurance commissions and other title fees and income, net: $25.54 million versus the two-analyst average estimate of $24.33 million.
- Credit card merchant fees, net: $1.55 million compared to the $1.62 million average estimate based on two analysts.
- Service charges on deposit accounts: $3.06 million versus the two-analyst average estimate of $2.97 million.
- Net interest income (tax-equivalent basis): $104.32 million versus the two-analyst average estimate of $108.48 million.
- Other income: $4.57 million compared to the $5.73 million average estimate based on two analysts.
- Total Noninterest Income: $63.88 million versus the two-analyst average estimate of $59.85 million.
- Bank owned life insurance: $1.84 million versus $2.01 million estimated by two analysts on average.
View all Key Company Metrics for TowneBank here>>>Shares of TowneBank have returned +2.7% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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