Towne Bank (TOWN) Soars 8.28% on January 06

Equities Staff  |

Towne Bank (TOWN) had a good day on the market for Wednesday January 06 as shares jumped 8.28% to close at $25.37. About 324,675 shares traded hands on 3,595 trades for the day, compared with an average daily volume of n/a shares out of a total float of 72.65 million. After opening the trading day at $24.12, shares of Towne Bank stayed within a range of $25.58 to $24.12.

With today's gains, Towne Bank now has a market cap of $1.84 billion. Shares of Towne Bank have been trading within a range of $28.21 and $15.03 over the last year, and it had a 50-day SMA of $n/a and a 200-day SMA of $n/a.

Towne Bank operates in Virginia and North Carolina. The company offers a diversified range of financial services through banking and nonbanking subsidiaries, and primarily serves the financial needs of individuals and small to medium-size businesses. The company has three reportable operating segments, which include banking, realty, and insurance. The banking segment provides traditional banking functions, along with commercial mortgage brokerage services and asset management services. The bank operates through a decentralized business model, while administrative decisions are made at the corporate level. The bank's strategic plan emphasizes generating fee income, which still trails its net interest income. Most of the company's loan portfolio is in real estate loans.

Towne Bank is based out of Portsmouth, VA and has some 2,450 employees. Its CEO is J. Davis.

For a complete fundamental analysis of Towne Bank, check out Equities.com’s Stock Valuation Analysis report for TOWN.

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Towne Bank is also a component of the Russell 2000. The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It's maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.

Russell's indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It's a simple approach that gives a broad, unbiased look at the small-cap market as a whole.

To get more information on Towne Bank and to follow the company’s latest updates, you can visit the company’s profile page here: TOWN’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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