Towne Bank Q4 Adj EPS $0.42 Misses $0.46 Estimate, Sales $155.55M Miss $164.67M Estimate
Portfolio Pulse from Benzinga Newsdesk
Towne Bank (NASDAQ:TOWN) reported Q4 adjusted EPS of $0.42, missing the consensus estimate of $0.46, and sales of $155.55M, also below the expected $164.67M. Compared to last year, EPS decreased by 35.38% and sales by 11.27%.

January 24, 2024 | 10:11 pm
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NEGATIVE IMPACT
Towne Bank's Q4 earnings and sales missed analyst estimates, with significant year-over-year declines in both metrics.
Missing both earnings and revenue estimates typically leads to negative investor sentiment in the short term. The substantial year-over-year decline in EPS and sales further exacerbates the situation, likely resulting in downward pressure on the stock price.
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