Keefe, Bruyette & Woods upgrades TowneBank to "Outperform" with a $40 price target and 25% upside potential.

TowneBank (NASDAQ:TOWN) has been upgraded to "Outperform" from "Market Perform" by Keefe, Bruyette & Woods, with a new price target of $40, indicating a potential 25.08% upside. The bank reported Q2 earnings of $0.57 EPS, exceeding estimates by $0.09, despite a 3.6% revenue decline year-over-year. Several institutional investors have adjusted their holdings in TowneBank, reflecting growing confidence in its future performance.

October 02, 2024
5 Articles