Latest news with #TowneBank
Forbes
24-06-2025
- Business
- Forbes
2 Stocks With Dividend Hikes, Upside Potential Going Ex-Dividend Soon
What could a bank and a luxury retailer possibly have in common? The Tale Of Two Stocks Both recently raised dividends and go ex-dividend this week, but more importantly, these offer capital appreciation potential for investors and carry a 'Buy' rating from analysts, thanks to their solid fundamentals. 1. TowneBank (TOWN) TowneBank (TOWN) operates across Hampton Roads, Central Virginia, and parts of North Carolina. Last month, TowneBank raised its quarterly cash dividend by 8% to $0.27. The record date is June 27, 2025, meaning shareholders should buy the stock by June 26th to be eligible for the payout on July 11. TowneBank has grown dividends for 13 consecutive years, with a 5-year CAGR of 6.8%, signaling financial strength. The forward dividend yield is 3.3% at current stock prices. It expects cash flows of $760 million from its securities portfolio in the next two years. Over the past four quarters, the company beat earnings estimates but had one revenue miss. Recent acquisitions, related synergies and benefits position TOWN well for future performance. In April, TowneBank and Old Point Financial agreed to merge. The deal will expand TowneBank's dominant foothold in the Hampton Roads MSA, a key driver of the regional economy. Hampton Roads is a strategic hub for U.S. naval operations, nuclear-powered shipbuilding, and emerging cybersecurity innovation — areas critical to national defense and economic resilience. The region brings together major industry players, research institutions, and defense organizations, making it a key nexus of influence. The significant branch overlap between TowneBank and Old Point Financial is expected to result in 45% cost savings in its non-interest expense base. The deal adds approximately $1.5 billion in assets and a low-cost deposit base with an average cost of 1.69% to TowneBank. Revenue synergies should accelerate profitability and a low-cost funding base is expected to increase the merged entity's value. A 10% accretion to EPS is expected in 2026 with fully phased-in cost savings. The fact that TowneBank went ahead with the Old Point Financial acquisition just after completing its Village Bank buy shows the company's confidence in its ability to efficiently integrate M&A for strategic growth. The expected asset base (including the Old Point acquisition) of $19.5 billion comprises $12.1 billion in organic assets and $7.4 billion from acquisitions - underscoring that M&A is a key pillar of its growth strategy. TOWN stock has a consensus Buy rating from analysts. In view of the above-mentioned acquisition-related benefits, the stock has the potential to at least revisit its 52-week high of around $38, which represents nearly 12% upside from current price levels. 2. Ralph Lauren (RL) A global luxury retailer, Ralph Lauren (RL) raised its quarterly cash dividend by 10% to $0.9125 per share, bringing the total annual dividend to $3.65 per share - yielding 1.35% on a forward basis at current stock price levels. The dividend is payable to shareholders on July 11 with a record date of June 27. Ralph Lauren has grown its dividend for three years in a row, at a 3-year CAGR of 6.3%. Over the years, Ralph Lauren has reduced discounting and increased full-priced selling, shifting to a less price-sensitive customer base. This has helped boost its gross margins by 700 basis points for fiscal 2025 from pre-pandemic levels. RL's margins also top the sector median: RL's Trailing Twelve Months (TTM) gross margin is 68.6% vs. 38.2% for the sector, while TTM net income margin is 10.5% vs. 4.4%, and its levered free cash flow (FCF) margin is 11.5% vs. 4.7%. International business now represents 57% of luxury retail chain's topline, up from 45% pre-pandemic. Ralph Lauren also boasts significant supply chain diversification — no single country accounts for more than 20% of its production, including China, which represents a single-digit percentage. DTC (Direct-to-Consumer) now forms two-thirds of the business. For fiscal 2025, Ralph Lauren added a record 5.9 million new consumers to its DTC businesses — a high single-digit year-on-year increase, led by younger, less price-sensitive female cohorts. Ralph Lauren is making gains where many retailers are struggling. An upscale customer base that provides pricing power, along with robust DTC and international sales - positions RL well for continued growth. AUR (Average Unit Retail) or average selling price per unit - has grown every quarter for the past eight years, while the brand's luxury and value perceptions have also grown progressively. While tariffs are expected to be a headwind, Ralph Lauren plans to hike prices for its upscale, less price-sensitive customer base to manage the cost impact. The company is assessing additional pricing actions for calendar 2025 and Spring 2026, on top of the proactive pricing already planned for 2025 in North America and Asia. Over the last four quarters, RL has beaten earnings and revenue estimates while growing revenue year-on-year. It has also surpassed full-year earnings and revenue expectations for the last four years. In 2025, Ralph Lauren generated $1 billion in free cash flow and returned $625 million to shareholders through dividends and buybacks. For fiscal 2026 (its current financial year), the company expects low single-digit revenue growth and a modest operating margin expansion given the high level of volatility. For the first quarter of 2026, RL expects: RL has a Buy rating from analysts and trades at a forward PEG ratio of 1.9 vs. its historical 5-year average of 3.6. A PEG reversion to even 2.2 would represent at least 15% upside from current levels. Bottom Line Recent acquisitions position TowneBank (TOWN) for long-term growth, while Ralph Lauren (RL) continues to benefit from pricing power, international momentum, and a growing DTC business. Both stocks go ex-dividend this week, which can lead to short-term volatility. Dividend-focused investors may consider buying before the ex-dividend date to capture the payout. For others, dips following ex-dividend dates often offer attractive entry points to accumulate quality names. Please note that I am not a registered investment advisor and readers should do their own due diligence before investing in this or any other stock. I am not responsible for the investment decisions made by individuals after reading this article. Readers are asked not to rely on the opinions and analysis expressed in the article and encouraged to do their own research before investing.
Malaysian Reserve
10-06-2025
- Business
- Malaysian Reserve
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates OPOF, PRA, SWTX on Behalf of Shareholders
NEW YORK, June 9, 2025 /PRNewswire/ — Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Old Point Financial Corporation (NASDAQ: OPOF)'s sale to Hampton Roads based TowneBank. Under the terms of the agreement, Old Point shareholders will elect to receive either $41.00 in cash or 1.1400 shares of TowneBank common stock for each share of Old Point common stock. If you are an Old Point shareholder, click here to learn more about your rights and options. ProAssurance Corporation (NYSE: PRA)'s sale to The Doctors Company for $25.00 in cash per share. If you are a ProAssurance shareholder, click here to learn more about your rights and options. SpringWorks Therapeutics, Inc. (NASDAQ: SWTX)'s sale to Merck KGaA, Darmstadt, Germany for $47.00 per share in cash. If you are a SpringWorks shareholder, click here to learn more about your rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@ or zhalper@ Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLCDaniel Sadeh, Halper, Esq.(212) 763-0060sadeh@
Yahoo
14-05-2025
- Business
- Yahoo
TowneBank Announces Quarterly Cash Dividend
Common Stock Dividend Increased by 8% SUFFOLK, Va., May 14, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) announced today that its Board of Directors declared its second-quarter shareholder cash dividend of $0.27 per common share payable on July 11, 2025, to shareholders of record on June 27, 2025. The quarterly common stock cash dividend of $0.27 per common share, or $1.08 per common share on an annual basis, is an 8% increase from the previous dividend rate. The amount and declaration of future cash dividends are subject to Board of Directors' approval in addition to regulatory restrictions. About TowneBank: Founded in 1999, TowneBank is a company built on relationships, offering a full range of banking and other financial services, with a focus of serving others and enriching lives. Dedicated to a culture of caring, TowneBank values all employees and members by embracing their diverse talents, perspectives, and experiences. Today, TowneBank operates over 55 offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina – serving as a local leader in promoting the social, cultural, and economic growth in each community. Towne offers a competitive array of business and personal banking solutions, delivered with only the highest ethical standards. Experienced local bankers providing a higher level of expertise and personal attention with local decision-making are key to the TowneBank strategy. TowneBank has grown its capabilities beyond banking to provide expertise through its affiliated companies that include Towne Wealth Management, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices RW Towne Realty, Towne 1031 Exchange, LLC, and Towne Vacations. With total assets of $17.51 billion as of March 31, 2025, TowneBank is one of the largest banks headquartered in Virginia. Media contact:G. Robert Aston, Jr., Executive Chairman, 757-638-6780William I. Foster III, President and Chief Executive Officer, 757-417-6482 Investor contact:William B. Littreal, Chief Financial Officer, 757-638-6813Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-05-2025
- Business
- Yahoo
TowneBank First Quarter 2025 Earnings: Beats Expectations
Revenue: US$189.6m (up 13% from 1Q 2024). Net income: US$50.6m (up 46% from 1Q 2024). Profit margin: 27% (up from 21% in 1Q 2024). The increase in margin was driven by higher revenue. EPS: US$0.67 (up from US$0.46 in 1Q 2024). We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 9.4%. Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's share price is broadly unchanged from a week ago. While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on TowneBank's balance sheet. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-05-2025
- Business
- Yahoo
Why Old Point Financial Corporation (OPOF) Is Surging in 2025
We recently published an article titled . In this article, we are going to take a look at where Old Point Financial Corporation (NASDAQ:OPOF) stands against the other financial services stocks. The financial services sector has entered 2025 on a wave of strong performance and renewed investor interest. This sector consists of banking, payments, insurance, and asset management and is a cornerstone of the global economy. These stocks didn't do too well during the 2022 downturn, as there was uncertainty regarding whether or not the Federal Reserve would bail out regional banks. However, after the 'mini banking crisis' calmed down, these stocks have performed quite well despite the macro trends being uncertain. And for some stocks, that momentum has been even stronger so far this year. It's worth looking at why. Even during bear markets, there are pockets of the market that perform exceptionally well. For example, I identified in another article. For this article, I screened the best-performing financial services stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A successful financial advisor giving advice to a satisfied client in an office. Number of Hedge Fund Holders In Q4 2024: 2 Old Point Financial Corporation (NASDAQ:OPOF) is a community-focused bank holding company headquartered in Hampton, Virginia, offering retail and commercial banking, wealth management, mortgage, and insurance services through its subsidiaries and branches in the Hampton Roads region. The stock is up significantly so far in 2025. It is almost entirely due to the announcement on April 3, 2025, that Old Point will merge with TowneBank. Under the merger agreement, Old Point shareholders can elect to receive either $41.00 in cash or 1.14 shares of TowneBank stock per Old Point share, valuing the transaction at approximately $203 million. This deal implies a significant premium to Old Point's pre-announcement share price and immediately drove the stock up by more than 40% in a single session, well above the 5% threshold. The merger is expected to create a stronger platform for growth and enhanced value for shareholders, customers, and employees. In its Q1 2025 results, Old Point reported net income of $2.2 million, up 26% year-over-year, with modest growth in assets and deposits. However, the financial results were overshadowed by the merger news, which is the clear and overwhelming reason for the stock's surge in 2025. Old Point Financial Corporation (NASDAQ:OPOF) stock is up 49.73% year-to-date. Overall OPOF ranks 11th on our list of the financial services stocks that are surging in 2025. While we acknowledge the potential of OPOF as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than OPOF but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
