Level Four Advisory Services LLC Sells 1,423 Shares of TowneBank (NASDAQ:TOWN)

Level Four Advisory Services LLC lessened its position in TowneBank (NASDAQ:TOWN) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 25,736 shares of the bank’s stock after selling 1,423 shares during the period. Level Four Advisory Services LLC’s holdings in TowneBank were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TOWN. Pictet Asset Management Holding SA increased its stake in shares of TowneBank by 19.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 12,383 shares of the bank’s stock worth $422,000 after purchasing an additional 2,052 shares during the period. Norges Bank bought a new position in TowneBank in the 4th quarter worth approximately $6,385,000. JPMorgan Chase & Co. increased its position in TowneBank by 16.5% in the 4th quarter. JPMorgan Chase & Co. now owns 421,602 shares of the bank’s stock worth $14,360,000 after buying an additional 59,642 shares during the period. Bay Capital Advisors LLC acquired a new position in shares of TowneBank during the fourth quarter worth approximately $669,000. Finally, Advantage Alpha Capital Partners LP boosted its position in shares of TowneBank by 12.6% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 17,757 shares of the bank’s stock valued at $605,000 after acquiring an additional 1,988 shares during the period. Institutional investors and hedge funds own 55.99% of the company’s stock.

TowneBank Stock Down 2.0 %

TOWN stock opened at $34.45 on Monday. TowneBank has a twelve month low of $25.70 and a twelve month high of $38.28. The company has a market cap of $2.58 billion, a PE ratio of 16.02 and a beta of 0.88. The business’s 50-day simple moving average is $35.64 and its 200 day simple moving average is $34.86.

TowneBank (NASDAQ:TOWN) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 research analysts anticipate that TowneBank will post 2.6 EPS for the current year.

TowneBank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Monday, March 31st. TowneBank’s dividend payout ratio is 46.51%.

Analyst Ratings Changes

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

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.