TowneBank (NASDAQ:TOWN) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in shares of TowneBank (NASDAQ:TOWN - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,790 shares of the bank's stock after acquiring an additional 8,335 shares during the quarter. Teacher Retirement System of Texas' holdings in TowneBank were worth $1,185,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in TowneBank in the fourth quarter worth about $14,122,000. Lightrock Netherlands B.V. purchased a new position in shares of TowneBank in the 4th quarter valued at approximately $6,746,000. Victory Capital Management Inc. boosted its stake in TowneBank by 9.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,155,201 shares of the bank's stock worth $73,406,000 after purchasing an additional 180,330 shares in the last quarter. Bank of New York Mellon Corp grew its position in TowneBank by 19.6% during the 4th quarter. Bank of New York Mellon Corp now owns 537,845 shares of the bank's stock worth $18,319,000 after purchasing an additional 88,277 shares during the last quarter. Finally, Barclays PLC increased its stake in TowneBank by 90.8% during the 3rd quarter. Barclays PLC now owns 143,914 shares of the bank's stock valued at $4,758,000 after purchasing an additional 68,479 shares in the last quarter. Institutional investors own 55.99% of the company's stock.

Wall Street Analyst Weigh In

Separately, Stephens reaffirmed an "equal weight" rating and issued a $41.00 price target on shares of TowneBank in a report on Thursday, January 23rd.

TowneBank Stock Up 0.3 %

Shares of NASDAQ:TOWN traded up $0.09 during trading on Wednesday, hitting $33.90. The stock had a trading volume of 353,132 shares, compared to its average volume of 250,596. The stock has a 50-day simple moving average of $35.62 and a two-hundred day simple moving average of $34.87. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 15.77 and a beta of 0.88. TowneBank has a 12-month low of $25.70 and a 12-month high of $38.28.

TowneBank (NASDAQ:TOWN - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that TowneBank will post 2.6 earnings per share for the current year.

TowneBank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Monday, March 31st. TowneBank's payout ratio is 46.51%.

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.