Financial Security Advisor Inc. Raises Stake in TowneBank (NASDAQ:TOWN)

Financial Security Advisor Inc. raised its holdings in shares of TowneBank (NASDAQ:TOWN) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,167 shares of the bank’s stock after acquiring an additional 1,097 shares during the period. Financial Security Advisor Inc.’s holdings in TowneBank were worth $1,310,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TowneBank by 6.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,753 shares of the bank’s stock valued at $322,000 after buying an additional 617 shares during the period. Entropy Technologies LP purchased a new position in TowneBank during the third quarter valued at approximately $312,000. Victory Capital Management Inc. lifted its holdings in TowneBank by 7,668.0% in the third quarter. Victory Capital Management Inc. now owns 1,974,871 shares of the bank’s stock valued at $65,289,000 after acquiring an additional 1,949,448 shares during the period. KBC Group NV purchased a new stake in TowneBank in the 3rd quarter worth approximately $100,000. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in TowneBank during the third quarter valued at $222,000. 55.99% of the stock is owned by hedge funds and other institutional investors.

TowneBank Trading Up 0.9 %

Shares of TOWN opened at $36.34 on Friday. The firm has a market cap of $2.73 billion, a P/E ratio of 16.90 and a beta of 0.93. TowneBank has a 12 month low of $25.70 and a 12 month high of $38.28. The stock’s 50 day moving average is $35.18 and its two-hundred day moving average is $34.61.

TowneBank (NASDAQ:TOWN) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, topping 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%. Equities 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. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.75%. TowneBank’s dividend payout ratio (DPR) is presently 46.51%.

Analyst Ratings Changes

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