WINTON GROUP Ltd Makes New $223,000 Investment in TowneBank (NASDAQ:TOWN)

WINTON GROUP Ltd bought a new position in shares of TowneBank (NASDAQ:TOWN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,167 shares of the bank’s stock, valued at approximately $223,000.

A number of other large investors also recently added to or reduced their stakes in the business. Quantamental Technologies LLC grew its position in TowneBank by 118.9% during the 1st quarter. Quantamental Technologies LLC now owns 1,237 shares of the bank’s stock worth $31,000 after purchasing an additional 672 shares during the last quarter. Weather Gauge Advisory LLC grew its position in TowneBank by 2.0% during the 1st quarter. Weather Gauge Advisory LLC now owns 51,335 shares of the bank’s stock worth $1,271,000 after purchasing an additional 996 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in TowneBank during the 1st quarter worth approximately $33,000. BB&T Corp grew its position in TowneBank by 0.4% during the 1st quarter. BB&T Corp now owns 411,100 shares of the bank’s stock worth $10,175,000 after purchasing an additional 1,716 shares during the last quarter. Finally, US Bancorp DE grew its position in TowneBank by 14.4% during the 1st quarter. US Bancorp DE now owns 16,665 shares of the bank’s stock worth $412,000 after purchasing an additional 2,092 shares during the last quarter. 46.05% of the stock is currently owned by institutional investors.

Several analysts have weighed in on TOWN shares. Zacks Investment Research raised shares of TowneBank from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies started coverage on shares of TowneBank in a research report on Tuesday, July 16th. They set a “neutral” rating and a $27.00 target price on the stock. BidaskClub raised shares of TowneBank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, ValuEngine raised shares of TowneBank from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $29.00.

Shares of TOWN stock traded down $0.22 during trading hours on Friday, hitting $27.29. The company’s stock had a trading volume of 99,823 shares, compared to its average volume of 120,482. The stock has a 50 day simple moving average of $27.36. The stock has a market cap of $1.98 billion, a PE ratio of 14.11 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.02. TowneBank has a 12-month low of $22.88 and a 12-month high of $33.20.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.48 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.04). The business had revenue of $144.54 million during the quarter, compared to analysts’ expectations of $140.67 million. TowneBank had a net margin of 21.63% and a return on equity of 9.16%. Research analysts expect that TowneBank will post 1.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were issued a $0.18 dividend. This is an increase from TowneBank’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, June 27th. TowneBank’s dividend payout ratio is 36.36%.

About TowneBank

TowneBank provides retail and commercial banking services for small- and medium-size businesses, professionals, and individuals. The company operates in three segments: Banking, Realty, and Insurance. It accepts various deposits products, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts, and negotiable order of withdrawal accounts.

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Institutional Ownership by Quarter for TowneBank (NASDAQ:TOWN)

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