Keybank National Association OH Has $427,000 Holdings in TowneBank (NASDAQ:TOWN)

Keybank National Association OH boosted its holdings in shares of TowneBank (NASDAQ:TOWN) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,535 shares of the bank’s stock after purchasing an additional 1,200 shares during the period. Keybank National Association OH’s holdings in TowneBank were worth $427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TOWN. Wealth Enhancement Advisory Services LLC increased its holdings in TowneBank by 6.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,753 shares of the bank’s stock valued at $322,000 after purchasing an additional 617 shares in the last quarter. Entropy Technologies LP acquired a new stake in TowneBank during the 3rd quarter valued at $312,000. Victory Capital Management Inc. increased its holdings in TowneBank by 7,668.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,974,871 shares of the bank’s stock valued at $65,289,000 after purchasing an additional 1,949,448 shares in the last quarter. KBC Group NV acquired a new stake in TowneBank during the 3rd quarter valued at $100,000. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in TowneBank during the 3rd quarter valued at $222,000. 55.99% of the stock is owned by institutional investors and hedge funds.

TowneBank Stock Performance

Shares of TOWN opened at $34.84 on Monday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 16.20 and a beta of 0.88. The business’s fifty day moving average price is $35.33 and its two-hundred day moving average price is $34.79. TowneBank has a 52 week low of $25.70 and a 52 week high of $38.28.

TowneBank (NASDAQ:TOWN) last announced its quarterly earnings data 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%. As a group, research analysts forecast that TowneBank will post 2.6 EPS for the current year.

TowneBank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.87%. TowneBank’s dividend payout ratio is currently 46.51%.

Wall Street Analyst Weigh In

Separately, Stephens reaffirmed an “equal weight” rating and set a $41.00 price target on shares of TowneBank in a 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.