Janus Henderson Group PLC lifted its stake in shares of TowneBank (NASDAQ:TOWN - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 787,667 shares of the bank's stock after buying an additional 46,678 shares during the period. Janus Henderson Group PLC owned approximately 1.05% of TowneBank worth $26,827,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its position in TowneBank by 90.8% during the third quarter. Barclays PLC now owns 143,914 shares of the bank's stock valued at $4,758,000 after purchasing an additional 68,479 shares during the period. Blue Trust Inc. lifted its holdings in TowneBank by 258.5% during the 4th quarter. Blue Trust Inc. now owns 1,434 shares of the bank's stock worth $47,000 after buying an additional 1,034 shares in the last quarter. KBC Group NV lifted its holdings in TowneBank by 28.2% during the 4th quarter. KBC Group NV now owns 3,858 shares of the bank's stock worth $131,000 after buying an additional 848 shares in the last quarter. PBMares Wealth Management LLC increased its position in shares of TowneBank by 9.6% in the 4th quarter. PBMares Wealth Management LLC now owns 24,203 shares of the bank's stock valued at $824,000 after purchasing an additional 2,124 shares during the last quarter. Finally, Choreo LLC increased its position in shares of TowneBank by 1.3% in the 4th quarter. Choreo LLC now owns 30,112 shares of the bank's stock valued at $1,033,000 after purchasing an additional 383 shares during the last quarter. 55.99% of the stock is currently owned by institutional investors and hedge funds.
TowneBank Price Performance
Shares of TOWN stock traded down $0.39 during mid-day trading on Wednesday, hitting $34.88. The stock had a trading volume of 15,087 shares, compared to its average volume of 254,139. TowneBank has a fifty-two week low of $25.70 and a fifty-two week high of $38.28. The company's 50-day simple moving average is $33.25 and its 200-day simple moving average is $34.66. The firm has a market cap of $2.62 billion, a PE ratio of 16.20 and a beta of 0.79.
TowneBank (NASDAQ:TOWN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. TowneBank had a net margin of 15.77% and a return on equity of 7.77%. The firm had revenue of $190.04 million during the quarter, compared to analysts' expectations of $191.29 million. During the same quarter last year, the business earned $0.48 earnings per share. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts expect that TowneBank will post 2.6 EPS for the current year.
TowneBank Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.27 dividend. This is a boost from TowneBank's previous quarterly dividend of $0.25. The ex-dividend date is Friday, June 27th. This represents a $1.08 annualized dividend and a dividend yield of 3.10%. TowneBank's dividend payout ratio (DPR) is 45.76%.
Analyst Upgrades and Downgrades
TOWN has been the topic of a number of recent analyst reports. Hovde Group increased their price objective on shares of TowneBank from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Stephens reissued an "equal weight" rating and set a $41.00 price objective on shares of TowneBank in a research report on Thursday, January 23rd.
Read Our Latest Stock Analysis on TOWN
TowneBank Profile
(
Free Report)
TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.
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