TowneBank (NASDAQ:TOWN) Shares Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its holdings in shares of TowneBank (NASDAQ:TOWN) by 12.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,757 shares of the bank’s stock after buying an additional 1,988 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in TowneBank were worth $605,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TOWN. Vanguard Group Inc. raised its stake in TowneBank by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,482,171 shares of the bank’s stock valued at $254,843,000 after acquiring an additional 49,970 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of TowneBank by 9.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,155,201 shares of the bank’s stock worth $73,406,000 after purchasing an additional 180,330 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of TowneBank by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,685,643 shares of the bank’s stock worth $55,738,000 after purchasing an additional 18,929 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in TowneBank by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 845,335 shares of the bank’s stock valued at $28,792,000 after buying an additional 6,285 shares during the last quarter. Finally, Royce & Associates LP grew its position in TowneBank by 10.8% in the 4th quarter. Royce & Associates LP now owns 538,053 shares of the bank’s stock valued at $18,326,000 after buying an additional 52,236 shares during the last quarter. Hedge funds and other institutional investors own 55.99% of the company’s stock.

TowneBank Trading Up 2.5 %

Shares of TOWN stock opened at $35.32 on Tuesday. The stock has a 50 day simple moving average of $35.56 and a 200-day simple moving average of $34.82. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 16.43 and a beta of 0.88. TowneBank has a 12-month low of $25.70 and a 12-month high of $38.28.

TowneBank (NASDAQ:TOWN) last released its earnings results on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. TowneBank had a return on equity of 7.77% and a net margin of 15.77%. On average, equities analysts forecast that TowneBank will post 2.6 earnings per share for the current fiscal year.

TowneBank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 2.83%. TowneBank’s payout ratio is currently 46.51%.

Wall Street Analyst Weigh In

Separately, Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of TowneBank in a research report on Thursday, January 23rd.

TowneBank 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.