Victory Capital Management Inc. Has $73.41 Million Holdings in TowneBank (NASDAQ:TOWN)

Victory Capital Management Inc. increased its position in shares of TowneBank (NASDAQ:TOWN) by 9.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,155,201 shares of the bank’s stock after acquiring an additional 180,330 shares during the quarter. Victory Capital Management Inc.’s holdings in TowneBank were worth $73,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TOWN. Lightrock Netherlands B.V. bought a new stake in TowneBank during the fourth quarter worth about $6,746,000. Bank of New York Mellon Corp lifted its position in TowneBank by 19.6% during the fourth 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 period. De Lisle Partners LLP lifted 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 worth $3,856,000 after purchasing an additional 76,731 shares during the period. Barclays PLC lifted its position in TowneBank by 90.8% during the third quarter. Barclays PLC now owns 143,914 shares of the bank’s stock worth $4,758,000 after purchasing an additional 68,479 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in TowneBank by 775.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 67,458 shares of the bank’s stock worth $2,298,000 after purchasing an additional 59,750 shares during the period. Institutional investors own 55.99% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens reaffirmed an “equal weight” rating and set a $41.00 price objective on shares of TowneBank in a research report on Thursday, January 23rd.

TowneBank Trading Down 0.7 %

TOWN stock opened at $34.92 on Friday. The stock has a market capitalization of $2.62 billion, a P/E ratio of 16.24 and a beta of 0.88. TowneBank has a 12 month low of $25.70 and a 12 month high of $38.28. The firm has a 50-day moving average price of $35.32 and a 200-day moving average price of $34.75.

TowneBank (NASDAQ:TOWN) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts predict that TowneBank will post 2.6 EPS for the current fiscal year.

TowneBank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.86%. TowneBank’s dividend payout ratio (DPR) is currently 46.51%.

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.