De Lisle Partners LLP Boosts Holdings in TowneBank (NASDAQ:TOWN)

De Lisle Partners LLP increased its stake in shares of TowneBank (NASDAQ:TOWN - Free Report) by 192.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,625 shares of the bank's stock after buying an additional 76,731 shares during the quarter. De Lisle Partners LLP owned 0.16% of TowneBank worth $3,856,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Oak Harbor Wealth Partners LLC increased its position in shares of TowneBank by 7.0% during the 2nd quarter. Oak Harbor Wealth Partners LLC now owns 8,408 shares of the bank's stock valued at $229,000 after purchasing an additional 549 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in TowneBank by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 31,187 shares of the bank's stock valued at $850,000 after purchasing an additional 569 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in TowneBank by 6.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,753 shares of the bank's stock valued at $322,000 after purchasing an additional 617 shares during the period. First Western Trust Bank increased its position in TowneBank by 4.3% in the third quarter. First Western Trust Bank now owns 18,123 shares of the bank's stock worth $599,000 after buying an additional 745 shares during the last quarter. Finally, AMG National Trust Bank raised its stake in shares of TowneBank by 1.6% in the third 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. Institutional investors own 55.99% of the company's stock.

TowneBank Stock Down 0.9 %

TOWN traded down $0.32 on Thursday, hitting $36.68. The company's stock had a trading volume of 294,869 shares, compared to its average volume of 255,310. TowneBank has a 12 month low of $25.70 and a 12 month high of $37.77. The firm has a market cap of $2.75 billion, a P/E ratio of 18.43 and a beta of 0.89. The company's 50 day simple moving average is $34.14 and its 200-day simple moving average is $31.45.

TowneBank (NASDAQ:TOWN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. TowneBank had a return on equity of 7.32% and a net margin of 14.89%. The firm had revenue of $258.86 million during the quarter, compared to analyst estimates of $179.80 million. During the same period last year, the company earned $0.60 earnings per share. Equities analysts predict that TowneBank will post 2.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded TowneBank from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $35.00 to $40.00 in a research note on Wednesday, October 2nd.

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.