Swiss National Bank Has $5.01 Million Holdings in TowneBank (NASDAQ:TOWN)

Swiss National Bank grew its position in shares of TowneBank (NASDAQ:TOWN) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,115 shares of the bank’s stock after buying an additional 1,000 shares during the quarter. Swiss National Bank owned approximately 0.20% of TowneBank worth $5,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Salem Investment Counselors Inc. acquired a new stake in TowneBank in the fourth quarter valued at approximately $34,000. Blue Trust Inc. lifted its stake in shares of TowneBank by 258.5% in 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in TowneBank in the third quarter worth $73,000. KBC Group NV raised its holdings in TowneBank by 28.2% during the fourth quarter. KBC Group NV now owns 3,858 shares of the bank’s stock valued at $131,000 after buying an additional 848 shares in the last quarter. Finally, FMR LLC raised its holdings in TowneBank by 137.8% during the third quarter. FMR LLC now owns 4,882 shares of the bank’s stock valued at $161,000 after buying an additional 2,829 shares in the last quarter. Institutional investors own 55.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

TowneBank Trading Up 2.5 %

NASDAQ 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 company has a fifty day simple moving average of $35.56 and a 200 day simple moving average of $34.82. The company has a market cap of $2.65 billion, a P/E ratio of 16.43 and a beta of 0.88.

TowneBank (NASDAQ:TOWN) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that TowneBank will post 2.6 EPS for the current fiscal year.

TowneBank Dividend Announcement

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