Swiss National Bank Buys 1,000 Shares of TowneBank (NASDAQ:TOWN)

Swiss National Bank lifted its stake in TowneBank (NASDAQ:TOWN) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 147,115 shares of the bank’s stock after buying an additional 1,000 shares during the period. Swiss National Bank’s holdings in TowneBank were worth $5,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TOWN. Raymond James Financial Inc. acquired a new position in TowneBank in the 4th quarter valued at approximately $14,122,000. Lightrock Netherlands B.V. acquired a new position in shares of TowneBank in the fourth quarter valued at $6,746,000. Victory Capital Management Inc. raised its stake in shares of TowneBank by 9.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,155,201 shares of the bank’s stock valued at $73,406,000 after purchasing an additional 180,330 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in TowneBank by 19.6% during the fourth quarter. Bank of New York Mellon Corp now owns 537,845 shares of the bank’s stock worth $18,319,000 after buying an additional 88,277 shares in the last quarter. Finally, De Lisle Partners LLP boosted its stake in TowneBank by 192.3% during the third quarter. De Lisle Partners LLP now owns 116,625 shares of the bank’s stock worth $3,856,000 after buying an additional 76,731 shares in the last quarter. 55.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TowneBank Trading Up 2.5 %

Shares of TOWN opened at $35.32 on Tuesday. TowneBank has a 1 year low of $25.70 and a 1 year high of $38.28. The stock has a 50 day simple moving average of $35.56 and a 200-day simple moving average of $34.82. The stock has a market cap of $2.65 billion, a PE ratio of 16.43 and a beta of 0.88.

TowneBank (NASDAQ:TOWN) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share 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, sell-side analysts forecast that TowneBank will post 2.6 EPS for the current fiscal year.

TowneBank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 2.83%. TowneBank’s dividend payout ratio (DPR) is presently 46.51%.

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.