TowneBank (NASDAQ:TOWN) First Quarter 2024 Results

Key Financial Results

• Revenue: US$168.0m (down 2.6% from 1Q 2023).

• Net income: US$34.7m (down 9.5% from 1Q 2023).

• Profit margin: 21% (down from 22% in 1Q 2023).

• EPS: US$0.46 (down from US$0.52 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

TowneBank Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 3.8%.

Looking ahead, revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 3.7% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of TowneBank's balance sheet and an in-depth analysis of the company's financial position.

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