Janus Henderson Group PLC Has $26.83 Million Stock Holdings in TowneBank (NASDAQ:TOWN)

Janus Henderson Group PLC boosted its holdings in TowneBank (NASDAQ:TOWN - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 787,667 shares of the bank's stock after acquiring an additional 46,678 shares during the quarter. Janus Henderson Group PLC owned about 1.05% of TowneBank worth $26,827,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Picton Mahoney Asset Management purchased a new position in shares of TowneBank during the fourth quarter valued at $28,000. Blue Trust Inc. boosted its position 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 acquiring an additional 1,034 shares during the period. Sterling Capital Management LLC grew its stake in TowneBank by 807.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,215 shares of the bank's stock valued at $75,000 after acquiring an additional 1,971 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of TowneBank in the 4th quarter valued at about $82,000. Finally, KBC Group NV lifted its position in shares of TowneBank by 28.2% in the fourth quarter. KBC Group NV now owns 3,858 shares of the bank's stock worth $131,000 after purchasing an additional 848 shares in the last quarter. Institutional investors own 55.99% of the company's stock.

TowneBank Trading Up 0.3%

TOWN traded up $0.10 during trading on Monday, hitting $35.29. The stock had a trading volume of 235,139 shares, compared to its average volume of 254,903. The firm has a market cap of $2.65 billion, a PE ratio of 16.41 and a beta of 0.79. TowneBank has a 12 month low of $25.70 and a 12 month high of $38.28. The company has a 50 day simple moving average of $33.19 and a 200-day simple moving average of $34.63.

TowneBank (NASDAQ:TOWN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $190.04 million during the quarter, compared to analysts' expectations of $191.29 million. TowneBank had a return on equity of 7.77% and a net margin of 15.77%. The firm's revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. As a group, sell-side analysts anticipate that TowneBank will post 2.6 earnings per share for the current fiscal year.

TowneBank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.27 per share. This is a boost from TowneBank's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, June 27th. TowneBank's dividend payout ratio is presently 45.76%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TOWN. Stephens reissued an "equal weight" rating and set a $41.00 target price on shares of TowneBank in a research note on Thursday, January 23rd. Hovde Group boosted their price target on TowneBank from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.

TowneBank Company Profile

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.