KLP Kapitalforvaltning AS Buys New Holdings in TowneBank (NASDAQ:TOWN)

KLP Kapitalforvaltning AS purchased a new position in shares of TowneBank ( NASDAQ:TOWN – Free Report ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,100 shares of the bank’s stock, valued at approximately $518,000. A number of other large investors also recently modified their holdings of the company.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in TowneBank by 2.2% in the fourth quarter.



Connor Clark & Lunn Investment Management Ltd. now owns 17,067 shares of the bank’s stock valued at $581,000 after buying an additional 365 shares during the period. Harbor Capital Advisors Inc.

raised its stake in shares of TowneBank by 1.9% in the 4th quarter. Harbor Capital Advisors Inc.

now owns 20,073 shares of the bank’s stock valued at $684,000 after acquiring an additional 383 shares during the period. Choreo LLC lifted its holdings in shares of TowneBank by 1.3% during the 4th quarter.

Choreo LLC now owns 30,112 shares of the bank’s stock valued at $1,033,000 after acquiring an additional 383 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in TowneBank during the 4th quarter worth $28,000. Finally, KBC Group NV grew its position in TowneBank by 28.

2% in the fourth quarter. KBC Group NV now owns 3,858 shares of the bank’s stock valued at $131,000 after acquiring an additional 848 shares in the last quarter. 55.

99% of the stock is currently owned by hedge funds and other institutional investors. Wall Street Analyst Weigh In Separately, Stephens reaffirmed an “equal weight” rating and issued a $41.00 target price on shares of TowneBank in a research report on Thursday, January 23rd.

TowneBank Price Performance Shares of TOWN stock opened at $30.86 on Friday. The firm has a fifty day moving average of $35.

54 and a two-hundred day moving average of $34.84. TowneBank has a 1-year low of $25.

70 and a 1-year high of $38.28. The firm has a market cap of $2.

31 billion, a P/E ratio of 14.35 and a beta of 0.79.

TowneBank ( NASDAQ:TOWN – Get Free Report ) last issued its quarterly earnings data 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 return on equity of 7.

77% and a net margin of 15.77%. On average, sell-side analysts expect that TowneBank will post 2.

6 EPS for the current year. TowneBank Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a $0.

25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.

00 annualized dividend and a yield of 3.24%. TowneBank’s dividend payout ratio is presently 46.

51%. About TowneBank ( 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. See Also Five stocks we like better than TowneBank What is Put Option Volume? Shares of RH Down Nearly 40%: Where Investors Can Turn To Now Why Are Stock Sectors Important to Successful Investing? Tariffs, Spin-Out, and R2 Updates Are Positive Signs for Rivian Stock Splits, Do They Really Impact Investors? Cathie Wood Loads Up on Baidu—Is It the Right Time to Buy? Receive News & Ratings for TowneBank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TowneBank and related companies with MarketBeat.com's FREE daily email newsletter .

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