SG Americas Securities LLC raised its position in TowneBank (NASDAQ:TOWN) by 63.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,644 shares of the bank’s stock after buying an additional 2,954 shares during the quarter. SG Americas Securities LLC’s holdings in TowneBank were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOWN. Russell Investments Group Ltd. increased its holdings in shares of TowneBank by 35.4% in the third quarter. Russell Investments Group Ltd. now owns 40,875 shares of the bank’s stock valued at $1,369,000 after purchasing an additional 10,697 shares during the period. Aldebaran Financial Inc. increased its holdings in shares of TowneBank by 0.4% in the second quarter. Aldebaran Financial Inc. now owns 9,073 shares of the bank’s stock valued at $279,000 after purchasing an additional 38 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of TowneBank by 3.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 166,890 shares of the bank’s stock valued at $5,140,000 after purchasing an additional 5,532 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of TowneBank by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 454,845 shares of the bank’s stock valued at $14,010,000 after purchasing an additional 9,929 shares during the period. Finally, State Street Corp increased its holdings in shares of TowneBank by 7.5% in the second quarter. State Street Corp now owns 1,134,228 shares of the bank’s stock valued at $34,937,000 after purchasing an additional 78,810 shares during the period. Institutional investors own 44.28% of the company’s stock.

A number of research analysts have recently issued reports on the company. BidaskClub lowered TowneBank from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Brean Capital assumed coverage on TowneBank in a report on Friday, December 1st. They issued a “hold” rating on the stock. Piper Jaffray Companies set a $34.00 target price on TowneBank and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research lowered TowneBank from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st.

TowneBank (NASDAQ:TOWN) opened at $32.65 on Wednesday. The stock has a market capitalization of $2,042.09, a P/E ratio of 21.59 and a beta of 0.98. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. TowneBank has a twelve month low of $28.55 and a twelve month high of $35.30.

TowneBank (NASDAQ:TOWN) last announced its quarterly earnings data on Thursday, October 26th. The bank reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01). TowneBank had a return on equity of 8.49% and a net margin of 19.55%. The business had revenue of $115.34 million for the quarter, compared to analyst estimates of $118.96 million. sell-side analysts forecast that TowneBank will post 1.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 28th. TowneBank’s dividend payout ratio is presently 36.84%.

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TowneBank Profile

TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.

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Institutional Ownership by Quarter for TowneBank (NASDAQ:TOWN)

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