TFO Wealth Partners LLC Has $39,000 Stock Holdings in TowneBank (NASDAQ:TOWN)

TFO Wealth Partners LLC boosted its holdings in shares of TowneBank (NASDAQ:TOWNFree Report) by 43,600.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,311 shares of the bank’s stock after buying an additional 1,308 shares during the period. TFO Wealth Partners LLC’s holdings in TowneBank were worth $39,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TOWN. EMC Capital Management raised its holdings in TowneBank by 72.6% during the third quarter. EMC Capital Management now owns 1,726 shares of the bank’s stock worth $40,000 after buying an additional 726 shares during the last quarter. Sound Income Strategies LLC acquired a new position in TowneBank during the fourth quarter worth $79,000. Signature Estate & Investment Advisors LLC acquired a new position in TowneBank during the fourth quarter worth $200,000. Oak Harbor Wealth Partners LLC acquired a new position in TowneBank during the fourth quarter worth $234,000. Finally, PNC Financial Services Group Inc. raised its holdings in TowneBank by 5.1% during the third quarter. PNC Financial Services Group Inc. now owns 13,844 shares of the bank’s stock worth $317,000 after buying an additional 673 shares during the last quarter. Institutional investors and hedge funds own 55.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of TowneBank from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th.

Read Our Latest Stock Report on TOWN

TowneBank Price Performance

NASDAQ TOWN opened at $26.55 on Friday. TowneBank has a 1 year low of $21.63 and a 1 year high of $31.08. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 13.21 and a beta of 0.91. The company has a fifty day moving average price of $27.09 and a 200-day moving average price of $27.71.

TowneBank (NASDAQ:TOWNGet Free Report) last posted its earnings results on Wednesday, April 24th. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. TowneBank had a net margin of 15.50% and a return on equity of 7.45%. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $169.68 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue was down 9.2% compared to the same quarter last year. On average, research analysts anticipate that TowneBank will post 2.07 EPS for the current fiscal year.

TowneBank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 3.77%. TowneBank’s payout ratio is currently 49.75%.

TowneBank Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TowneBank (NASDAQ:TOWN)

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