Sandler O’Neill downgraded shares of TowneBank (NASDAQ:TOWN) from a buy rating to a hold rating in a report published on Tuesday morning.

Shares of TowneBank (NASDAQ:TOWN) opened at 31.90 on Tuesday. The stock’s 50 day moving average is $26.68 and its 200-day moving average is $23.70. The firm has a market cap of $1.97 billion, a P/E ratio of 28.66 and a beta of 0.88. TowneBank has a one year low of $16.50 and a one year high of $32.15.

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About TowneBank

TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.

5 Day Chart for NASDAQ:TOWN

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