Towne Bank (NASDAQ:TOWN) Sellers Covered 1.62% of Their Shorts

October 13, 2018 - By Winifred Garcia

TowneBank (NASDAQ:TOWN) Logo

The stock of Towne Bank (NASDAQ:TOWN) registered a decrease of 1.62% in short interest. TOWN’s total short interest was 721,400 shares in October as published by FINRA. Its down 1.62% from 733,300 shares, reported previously. With 76,100 shares average volume, it will take short sellers 10 days to cover their TOWN’s short positions.

The stock decreased 2.84% or $0.84 during the last trading session, reaching $28.7. About 135,906 shares traded or 31.25% up from the average. TowneBank (NASDAQ:TOWN) has risen 1.12% since October 13, 2017 and is uptrending. It has underperformed by 14.50% the S&P500.

TowneBank provides retail and commercial banking services for small- and medium-size businesses, professionals, and individuals. The company has market cap of $2.06 billion. The firm operates in three divisions: Banking, Realty, and Insurance. It has a 19.24 P/E ratio. It accepts various deposits products, including demand deposits, negotiable order of withdrawal accounts, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.

TowneBank (NASDAQ:TOWN) Ratings Coverage

Among 2 analysts covering Towne Bank (NASDAQ:TOWN), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Towne Bank had 7 analyst reports since April 16, 2018 according to SRatingsIntel. The firm earned “Hold” rating on Thursday, May 3 by Brean Capital. As per Thursday, April 26, the company rating was upgraded by Raymond James. The company was maintained on Monday, May 21 by Brean Capital. Brean Capital maintained the stock with “Hold” rating in Friday, May 11 report. The stock of TowneBank (NASDAQ:TOWN) has “Hold” rating given on Monday, June 11 by Brean Capital. Brean Capital maintained TowneBank (NASDAQ:TOWN) on Monday, April 16 with “Hold” rating. Brean Capital maintained TowneBank (NASDAQ:TOWN) on Monday, April 23 with “Hold” rating.

TowneBank (NASDAQ:TOWN) Ratings Chart

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