Compton Wealth Advisory Group LLC Increases Position in TowneBank (NASDAQ:TOWN)

Compton Wealth Advisory Group LLC boosted its holdings in shares of TowneBank (NASDAQ:TOWNFree Report) by 13.1% during the first quarter, HoldingsChannel.com reports. The firm owned 10,007 shares of the bank’s stock after purchasing an additional 1,157 shares during the period. Compton Wealth Advisory Group LLC’s holdings in TowneBank were worth $281,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of TowneBank by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 752,382 shares of the bank’s stock valued at $17,252,000 after buying an additional 41,667 shares in the last quarter. Deutsche Bank AG lifted its holdings in TowneBank by 12.1% during the third quarter. Deutsche Bank AG now owns 34,166 shares of the bank’s stock valued at $783,000 after purchasing an additional 3,675 shares in the last quarter. Rhumbline Advisers lifted its holdings in TowneBank by 0.9% during the third quarter. Rhumbline Advisers now owns 136,496 shares of the bank’s stock valued at $3,130,000 after purchasing an additional 1,182 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of TowneBank by 5.1% in the third quarter. PNC Financial Services Group Inc. now owns 13,844 shares of the bank’s stock valued at $317,000 after purchasing an additional 673 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of TowneBank during the third quarter worth about $413,000. Hedge funds and other institutional investors own 55.99% of the company’s stock.

TowneBank Price Performance

TowneBank stock traded down $0.27 during midday trading on Friday, reaching $26.12. The company had a trading volume of 632,582 shares, compared to its average volume of 163,727. TowneBank has a 12-month low of $21.63 and a 12-month high of $31.08. The company has a market capitalization of $1.90 billion, a P/E ratio of 13.00 and a beta of 0.91. The firm’s fifty day simple moving average is $26.88 and its 200-day simple moving average is $27.68.

TowneBank (NASDAQ:TOWNGet Free Report) last announced its earnings results on Wednesday, April 24th. The bank reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. TowneBank had a return on equity of 7.45% and a net margin of 15.50%. The business had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $169.68 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s revenue was down 9.2% compared to the same quarter last year. On average, analysts expect that TowneBank will post 2.07 EPS for the current fiscal year.

TowneBank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.83%. TowneBank’s dividend payout ratio (DPR) is presently 49.75%.

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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Institutional Ownership by Quarter for TowneBank (NASDAQ:TOWN)

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