TowneBank (NASDAQ:TOWN) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its stake in shares of TowneBank (NASDAQ:TOWN) by 258.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,434 shares of the bank’s stock after buying an additional 1,034 shares during the period. Blue Trust Inc.’s holdings in TowneBank were worth $47,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TOWN. Harbor Capital Advisors Inc. boosted its position in shares of TowneBank by 1.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 20,073 shares of the bank’s stock valued at $684,000 after acquiring an additional 383 shares during the last quarter. Choreo LLC raised its stake in TowneBank by 1.3% during the fourth quarter. Choreo LLC now owns 30,112 shares of the bank’s stock worth $1,033,000 after purchasing an additional 383 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in TowneBank by 6.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,753 shares of the bank’s stock worth $322,000 after purchasing an additional 617 shares during the period. First Western Trust Bank boosted its holdings in TowneBank by 4.3% in the 3rd quarter. First Western Trust Bank now owns 18,123 shares of the bank’s stock valued at $599,000 after purchasing an additional 745 shares during the last quarter. Finally, AMG National Trust Bank grew its stake in shares of TowneBank by 1.6% in the 3rd quarter. AMG National Trust Bank now owns 50,929 shares of the bank’s stock valued at $1,684,000 after buying an additional 822 shares during the period. 55.99% of the stock is currently owned by hedge funds and other institutional investors.

TowneBank Trading Up 0.7 %

NASDAQ TOWN opened at $36.01 on Thursday. The stock has a market cap of $2.70 billion, a PE ratio of 16.75 and a beta of 0.93. TowneBank has a twelve month low of $25.70 and a twelve month high of $38.28. The stock has a fifty day simple moving average of $35.14 and a 200-day simple moving average of $34.60.

TowneBank (NASDAQ:TOWN) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share 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%. Research analysts predict that TowneBank will post 2.6 EPS for the current year.

TowneBank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.78%. TowneBank’s dividend payout ratio (DPR) is presently 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 research report on Thursday, January 23rd.

About TowneBank

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.