TowneBank (NASDAQ:TOWN) Shares Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its stake in shares of TowneBank (NASDAQ:TOWN) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,757 shares of the bank’s stock after buying an additional 1,988 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in TowneBank were worth $605,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TOWN. Picton Mahoney Asset Management purchased a new stake in shares of TowneBank in the 4th quarter valued at approximately $28,000. Salem Investment Counselors Inc. acquired a new stake in TowneBank in the fourth quarter valued at $34,000. Blue Trust Inc. lifted its holdings in TowneBank by 258.5% during the 4th quarter. Blue Trust Inc. now owns 1,434 shares of the bank’s stock worth $47,000 after buying an additional 1,034 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of TowneBank during the 3rd quarter worth about $73,000. Finally, KBC Group NV increased its holdings in shares of TowneBank by 28.2% in the 4th quarter. KBC Group NV now owns 3,858 shares of the bank’s stock valued at $131,000 after acquiring an additional 848 shares during the last quarter. 55.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

TowneBank Price Performance

NASDAQ TOWN opened at $35.32 on Tuesday. TowneBank has a 12 month low of $25.70 and a 12 month high of $38.28. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 16.43 and a beta of 0.88. The firm’s fifty day moving average price is $35.56 and its 200 day moving average price is $34.82.

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

TowneBank Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Monday, March 31st. TowneBank’s dividend payout ratio (DPR) is 46.51%.

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.