Barclays PLC Buys 9,304 Shares of TowneBank (NASDAQ:TOWN)

Barclays PLC increased its stake in shares of TowneBank (NASDAQ:TOWN - Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 153,218 shares of the bank's stock after buying an additional 9,304 shares during the period. Barclays PLC owned 0.20% of TowneBank worth $5,218,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TOWN. Picton Mahoney Asset Management bought a new stake in shares of TowneBank during the fourth quarter worth approximately $28,000. Salem Investment Counselors Inc. bought a new stake in TowneBank in the 4th quarter valued at $34,000. Blue Trust Inc. increased its position 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 period. Sterling Capital Management LLC lifted its holdings in shares of TowneBank by 807.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,215 shares of the bank's stock worth $75,000 after buying an additional 1,971 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of TowneBank in the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 55.99% of the company's stock.

TowneBank Stock Performance

TOWN opened at $32.84 on Friday. The firm has a market cap of $2.46 billion, a P/E ratio of 15.27 and a beta of 0.79. The business's fifty day moving average is $33.73 and its 200-day moving average is $34.61. TowneBank has a 52-week low of $25.70 and a 52-week high of $38.28.

TowneBank (NASDAQ:TOWN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. TowneBank had a net margin of 15.77% and a return on equity of 7.77%. The firm had revenue of $190.04 million for the quarter, compared to analyst estimates of $191.29 million. On average, research analysts predict that TowneBank will post 2.6 earnings per share for the current fiscal year.

TowneBank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.05%. The ex-dividend date was Monday, March 31st. TowneBank's payout ratio is presently 42.37%.

Wall Street Analyst Weigh In

TOWN has been the subject of several analyst reports. Stephens reiterated an "equal weight" rating and issued a $41.00 price objective on shares of TowneBank in a research note on Thursday, January 23rd. Hovde Group raised shares of TowneBank from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $39.00 to $38.00 in a report on Friday, April 4th.

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.

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