OLD Point Trust & Financial Services N A Has $687,000 Stake in TowneBank (NASDAQ:TOWN)

OLD Point Trust & Financial Services N A grew its position in TowneBank (NASDAQ:TOWNFree Report) by 66.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,072 shares of the bank’s stock after purchasing an additional 9,210 shares during the period. OLD Point Trust & Financial Services N A’s holdings in TowneBank were worth $687,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TFO Wealth Partners LLC lifted its holdings in shares of TowneBank by 43,600.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,311 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,308 shares in the last quarter. EMC Capital Management lifted its holdings in shares of TowneBank by 72.6% in the third quarter. EMC Capital Management now owns 1,726 shares of the bank’s stock valued at $40,000 after purchasing an additional 726 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of TowneBank in the fourth quarter valued at about $79,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of TowneBank in the fourth quarter valued at about $200,000. Finally, Oak Harbor Wealth Partners LLC bought a new stake in shares of TowneBank in the fourth quarter valued at about $234,000. 55.99% of the stock is currently owned by institutional investors.

TowneBank Trading Down 0.3 %

Shares of TowneBank stock traded down $0.09 during trading on Friday, reaching $26.46. The stock had a trading volume of 216,964 shares, compared to its average volume of 211,512. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 13.16 and a beta of 0.91. The stock has a fifty day moving average price of $27.02 and a two-hundred day moving average price of $27.70. TowneBank has a 52 week low of $21.63 and a 52 week high of $31.08.

TowneBank (NASDAQ:TOWNGet Free Report) last released 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 return on equity of 7.45% and a net margin of 15.50%. The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $169.68 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. TowneBank’s revenue was down 9.2% on a year-over-year basis. On average, equities analysts forecast that TowneBank will post 2.07 EPS for the current fiscal year.

TowneBank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued 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 3.78%. TowneBank’s payout ratio is presently 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.

See Also

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Institutional Ownership by Quarter for TowneBank (NASDAQ:TOWN)

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