De Lisle Partners LLP Has $2.56 Million Stock Holdings in Towne Bank $TOWN

De Lisle Partners LLP trimmed its stake in Towne Bank (NASDAQ:TOWN) by 34.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,731 shares of the bank’s stock after selling 39,894 shares during the quarter. De Lisle Partners LLP’s holdings in Towne Bank were worth $2,561,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Towne Bank by 931.5% in the second quarter. EverSource Wealth Advisors LLC now owns 753 shares of the bank’s stock worth $26,000 after purchasing an additional 680 shares during the period. Quantbot Technologies LP acquired a new stake in Towne Bank in the second quarter worth $30,000. Los Angeles Capital Management LLC acquired a new stake in Towne Bank in the fourth quarter worth $42,000. Comerica Bank grew its holdings in Towne Bank by 199.8% in the third quarter. Comerica Bank now owns 1,676 shares of the bank’s stock worth $58,000 after purchasing an additional 1,117 shares during the period. Finally, Assetmark Inc. acquired a new stake in Towne Bank in the third quarter worth $69,000. 55.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TOWN has been the subject of a number of research reports. Weiss Ratings cut shares of Towne Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Zacks Research cut shares of Towne Bank from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Hovde Group reduced their price target on shares of Towne Bank from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $38.00 price target (down from $42.00) on shares of Towne Bank in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.50.

Towne Bank Stock Up 1.5%

Shares of NASDAQ TOWN opened at $35.67 on Friday. The stock has a market capitalization of $2.82 billion, a P/E ratio of 18.02 and a beta of 0.70. The company has a 50-day moving average price of $34.77 and a 200-day moving average price of $34.66. Towne Bank has a 1 year low of $31.91 and a 1 year high of $37.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.89 and a quick ratio of 0.88.

Towne Bank (NASDAQ:TOWN) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $247.62 million during the quarter, compared to analysts’ expectations of $274.02 million. Towne Bank had a net margin of 13.51% and a return on equity of 9.91%. The business’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, equities research analysts forecast that Towne Bank will post 3.15 EPS for the current fiscal year.

Towne Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.28 per share. This is an increase from Towne Bank’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, June 26th. Towne Bank’s dividend payout ratio is 54.55%.

About Towne Bank

TowneBank is a Virginia‐based financial services company organized as a bank holding company. Its primary subsidiary, TowneBank, operates a network of community banking offices and mortgage production facilities. The company offers a comprehensive range of commercial and consumer banking solutions, including deposit accounts, lending products, treasury management, and private banking services tailored to individuals, small businesses, and middle‐market corporations.

In addition to traditional banking, TowneBank provides specialty services through affiliated subsidiaries.