Fintel reports that on September 13, 2023, Stephens & Co. initiated coverage of Townebank Portsmouth VA (NASDAQ:TOWN) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 19.72% Upside
As of August 31, 2023, the average one-year price target for Townebank Portsmouth VA is 28.05. The forecasts range from a low of 26.26 to a high of $30.45. The average price target represents an increase of 19.72% from its latest reported closing price of 23.43.
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The projected annual revenue for Townebank Portsmouth VA is 794MM, an increase of 14.45%. The projected annual non-GAAP EPS is 3.03.
What is the Fund Sentiment?
There are 419 funds or institutions reporting positions in Townebank Portsmouth VA. This is a decrease of 32 owner(s) or 7.10% in the last quarter. Average portfolio weight of all funds dedicated to TOWN is 0.08%, a decrease of 22.13%. Total shares owned by institutions decreased in the last three months by 0.77% to 45,657K shares. 
The put/call ratio of TOWN is 0.06, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 3,966K shares representing 5.37% ownership of the company. In it's prior filing, the firm reported owning 3,596K shares, representing an increase of 9.32%. The firm decreased its portfolio allocation in TOWN by 8.63% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 2,436K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 2,233K shares, representing an increase of 8.34%. The firm decreased its portfolio allocation in TOWN by 6.04% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,094K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 2,083K shares, representing an increase of 0.54%. The firm decreased its portfolio allocation in TOWN by 19.11% over the last quarter.
Nuance Investments holds 1,694K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 1,822K shares, representing a decrease of 7.55%. The firm decreased its portfolio allocation in TOWN by 18.18% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,693K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 1,714K shares, representing a decrease of 1.24%. The firm decreased its portfolio allocation in TOWN by 18.05% over the last quarter.
Townebank Portsmouth VA Background Information
(This description is provided by the company.)
Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a mission of serving others and enriching lives. Dedicated to a culture of caring, Towne values all employees and members by embracing their diverse talents, perspectives, and experiences.
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