Barclays PLC cut its holdings in shares of TowneBank (NASDAQ:TOWN – Get Rating) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,236 shares of the bank's stock after selling 4,419 shares during the quarter. Barclays PLC owned 0.10% of TowneBank worth $1,885,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of TowneBank by 12.9% in the first quarter. Vanguard Group Inc. now owns 7,253,308 shares of the bank's stock worth $217,165,000 after purchasing an additional 827,143 shares during the last quarter. BlackRock Inc. grew its holdings in shares of TowneBank by 6.5% in the first quarter. BlackRock Inc. now owns 5,151,219 shares of the bank's stock worth $154,227,000 after purchasing an additional 316,304 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TowneBank by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,984,330 shares of the bank's stock worth $89,352,000 after purchasing an additional 69,020 shares during the last quarter. State Street Corp grew its holdings in shares of TowneBank by 24.3% in the second quarter. State Street Corp now owns 1,709,804 shares of the bank's stock worth $46,809,000 after purchasing an additional 333,828 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of TowneBank by 13.2% in the second quarter. Renaissance Technologies LLC now owns 836,782 shares of the bank's stock worth $22,719,000 after purchasing an additional 97,600 shares during the last quarter. Institutional investors own 52.75% of the company's stock.
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Wall Street Analysts Forecast Growth
Separately, StockNews.com assumed coverage on shares of TowneBank in a report on Wednesday, October 12th. They issued a "hold" rating on the stock.
TowneBank Stock Performance
NASDAQ:TOWN opened at $31.44 on Friday. The stock has a market cap of $2.29 billion, a P/E ratio of 12.09 and a beta of 0.98. The firm's fifty day simple moving average is $30.95 and its 200 day simple moving average is $30.15. TowneBank has a twelve month low of $26.18 and a twelve month high of $33.42. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.02.
TowneBank Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 12th. Investors of record on Friday, December 30th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, December 29th. TowneBank's dividend payout ratio (DPR) is currently 35.38%.
About TowneBank
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TowneBank engages in the provision of retail and commercial banking services to individuals and small and medium size businesses. It operates through the following segments: Banking, Realty, and Insurance. The Banking segment offers loan and deposit services to retail and commercial customers. The Realty segment focuses on the provision of residential real estate services and originations of a variety of mortgage loans.
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