Company TowneBank

Equities

TOWN

US89214P1093

Banks

Market Closed - Nasdaq 02:00:00 04/05/2024 am IST 5-day change 1st Jan Change
27.3 USD +1.00% Intraday chart for TowneBank +1.41% -8.27%

Business Summary

TowneBank is engaged in offering retail and commercial banking services to various markets in Virginia and North Carolina. The Company operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. It also provides commercial mortgage brokerage services and a variety of investment and asset management services. The Realty segment offers residential real estate services, mortgage loans, resort property management, and residential and commercial title insurance. The Insurance segment provides a full line of commercial and consumer insurance products and financial services, as well as employee benefit services. It operates over 45 banking offices (eight of which operate as Farmers Bank, a division of TowneBank) throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina. Its subsidiaries include Towne Investments, LLC, TowneBank Heritage Forest, LLC and others.

Number of employees: 2,784

Sales per Business

USD in Million2022Weight2023Weight Delta
Banking
73.0 %
495 72.1 % 500 73.0 % +0.82%
Realty
13.8 %
117 17.0 % 95 13.8 % -19.02%
Insurance
13.2 %
74 10.8 % 90 13.2 % +21.58%

Sales per region

USD in Million2022Weight2023Weight Delta
United States
100.0 %
687 100.0 % 694 100.0 % +1.05%

Managers

Managers TitleAgeSince
Founder 78 03/98/03
Chief Executive Officer 67 01/05/01
Chairman 78 01/99/01
Director of Finance/CFO 53 01/08/01
Chief Tech/Sci/R&D Officer 57 01/16/01
Chief Operating Officer 56 01/06/01
Director/Board Member 77 01/06/01
Director/Board Member 73 01/10/01
Director/Board Member 77 01/09/01
Director/Board Member 78 01/10/01

Members of the board

Members of the board TitleAgeSince
Director/Board Member 61 27/16/27
Founder 78 03/98/03
Director/Board Member 71 01/04/01
Chairman 78 01/99/01
Director/Board Member 86 01/99/01
Director/Board Member 73 01/10/01
Director/Board Member 82 01/99/01
Director/Board Member 77 01/99/01
Director/Board Member 78 01/10/01
Director/Board Member 77 01/18/01

Share class

VoteQuantityFree-FloatCompany-owned sharesTotal Float
Stock A 1 74,990,437 73,648,534 ( 98.21 %) 0 98.21 %

Shareholders

NameEquities%Valuation
Vanguard Fiduciary Trust Co.
10.20 %
7,416,407 10.20 % 208 M $
BlackRock Advisors LLC
7.630 %
5,548,798 7.630 % 156 M $
Dimensional Fund Advisors LP
5.551 %
4,036,878 5.551 % 113 M $
T. Rowe Price Investment Management, Inc.
5.311 %
3,862,042 5.311 % 108 M $
Nuance Investments LLC
3.315 %
2,410,827 3.315 % 68 M $
2,022,516 2.781 % 57 M $
1,902,688 2.616 % 53 M $
Geode Capital Management LLC
2.138 %
1,554,615 2.138 % 44 M $
Charles Schwab Investment Management, Inc.
1.078 %
784,137 1.078 % 22 M $
American Century Cos., Inc.
0.9432 %
685,947 0.9432 % 19 M $

Company contact information

TowneBank

5716 High Street

23703-4502, Portsmouth

+757 638 7500

http://www.townebank.com
address TowneBank(TOWN)

Group companies

NameCategory and Sector
Finance/Rental/Leasing
Newtowne Mortgage LLC
Financial Conglomerates
Finance/Rental/Leasing
Finance/Rental/Leasing
Finance/Rental/Leasing
Finance/Rental/Leasing
Finance/Rental/Leasing

Sales per Business

Trading Rating
Investor Rating
ESG Refinitiv
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
27.3 USD
Average target price
31 USD
Spread / Average Target
+13.55%
Consensus