Teacher Retirement System of Texas Increases Stock Holdings in TowneBank (NASDAQ:TOWN)

Teacher Retirement System of Texas raised its holdings in TowneBank (NASDAQ:TOWN) by 31.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,790 shares of the bank’s stock after buying an additional 8,335 shares during the quarter. Teacher Retirement System of Texas’ holdings in TowneBank were worth $1,185,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in shares of TowneBank during the fourth quarter valued at about $28,000. Salem Investment Counselors Inc. purchased a new stake in TowneBank during the 4th quarter worth approximately $34,000. Blue Trust Inc. increased its stake in TowneBank by 258.5% during the 4th quarter. Blue Trust Inc. now owns 1,434 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,034 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TowneBank in the third quarter worth $73,000. Finally, KBC Group NV lifted its stake in shares of TowneBank by 28.2% during the fourth quarter. KBC Group NV now owns 3,858 shares of the bank’s stock worth $131,000 after buying an additional 848 shares during the period. Institutional investors and hedge funds own 55.99% of the company’s stock.

TowneBank Stock Down 2.0 %

Shares of NASDAQ TOWN opened at $34.45 on Friday. TowneBank has a 52 week low of $25.70 and a 52 week high of $38.28. The business’s 50 day moving average price is $35.64 and its 200 day moving average price is $34.85. The firm has a market cap of $2.58 billion, a P/E ratio of 16.02 and a beta of 0.88.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. TowneBank had a net margin of 15.77% and a return on equity of 7.77%. As a group, research analysts expect that TowneBank will post 2.6 earnings per share for the current year.

TowneBank Announces Dividend

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.90%. The ex-dividend date is Monday, March 31st. TowneBank’s dividend payout ratio is currently 46.51%.

Analyst Ratings Changes

Separately, Stephens reissued an “equal weight” rating and issued a $41.00 target price 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.