Janus Henderson Group PLC Has $24.50 Million Holdings in TowneBank (NASDAQ:TOWN)

Janus Henderson Group PLC lessened its holdings in TowneBank (NASDAQ:TOWN - Free Report) by 28.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 740,989 shares of the bank's stock after selling 291,085 shares during the period. Janus Henderson Group PLC owned about 0.99% of TowneBank worth $24,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TOWN. Victory Capital Management Inc. boosted its position in shares of TowneBank by 7,668.0% in the third quarter. Victory Capital Management Inc. now owns 1,974,871 shares of the bank's stock worth $65,289,000 after buying an additional 1,949,448 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of TowneBank by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,269,588 shares of the bank's stock worth $116,431,000 after buying an additional 119,459 shares during the period. De Lisle Partners LLP boosted its position in TowneBank by 192.3% during the third quarter. De Lisle Partners LLP now owns 116,625 shares of the bank's stock valued at $3,856,000 after purchasing an additional 76,731 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in TowneBank by 315.8% during the second quarter. Cubist Systematic Strategies LLC now owns 95,407 shares of the bank's stock valued at $2,602,000 after purchasing an additional 72,464 shares during the last quarter. Finally, Quest Partners LLC boosted its position in TowneBank by 5,296,900.0% during the second quarter. Quest Partners LLC now owns 52,970 shares of the bank's stock valued at $1,444,000 after purchasing an additional 52,969 shares during the last quarter. Institutional investors and hedge funds own 55.99% of the company's stock.

TowneBank Stock Performance

Shares of TowneBank stock traded down $0.43 during trading on Friday, reaching $36.97. The company's stock had a trading volume of 225,534 shares, compared to its average volume of 250,943. The business's fifty day moving average price is $34.61 and its 200-day moving average price is $31.93. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 18.58 and a beta of 0.91. TowneBank has a one year low of $25.70 and a one year high of $38.28.

TowneBank (NASDAQ:TOWN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $179.80 million. During the same period in the previous year, the company posted $0.60 earnings per share. Sell-side analysts anticipate that TowneBank will post 2.07 EPS for the current year.

TowneBank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 2.70%. TowneBank's dividend payout ratio is 50.25%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised TowneBank from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $35.00 to $40.00 in a research report on Wednesday, October 2nd.

TowneBank Company 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.