Level Four Advisory Services LLC Has $877,000 Holdings in TowneBank (NASDAQ:TOWN)

Level Four Advisory Services LLC cut its position in shares of TowneBank (NASDAQ:TOWN) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,736 shares of the bank’s stock after selling 1,423 shares during the quarter. Level Four Advisory Services LLC’s holdings in TowneBank were worth $877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in TowneBank by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,960 shares of the bank’s stock worth $11,966,000 after purchasing an additional 50,149 shares during the period. Geode Capital Management LLC boosted its position in shares of TowneBank by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,685,643 shares of the bank’s stock worth $55,738,000 after buying an additional 18,929 shares during the period. Teacher Retirement System of Texas boosted its position in shares of TowneBank by 31.5% in the fourth quarter. Teacher Retirement System of Texas now owns 34,790 shares of the bank’s stock worth $1,185,000 after buying an additional 8,335 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of TowneBank by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 839,050 shares of the bank’s stock valued at $27,739,000 after buying an additional 7,738 shares in the last quarter. Finally, Jane Street Group LLC raised its position in TowneBank by 10.5% during the third quarter. Jane Street Group LLC now owns 74,965 shares of the bank’s stock valued at $2,478,000 after buying an additional 7,137 shares during the period. 55.99% of the stock is currently owned by institutional investors and hedge funds.

TowneBank Stock Down 2.0 %

Shares of NASDAQ:TOWN opened at $34.45 on Monday. The firm has a fifty day moving average of $35.64 and a two-hundred day moving average of $34.86. TowneBank has a 12-month low of $25.70 and a 12-month high of $38.28. The firm has a market capitalization of $2.58 billion, a P/E ratio of 16.02 and a beta of 0.88.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that TowneBank will post 2.6 earnings per share for the current fiscal year.

TowneBank Announces Dividend

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 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 yield of 2.90%. TowneBank’s dividend payout ratio is currently 46.51%.

Analysts Set New Price Targets

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

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.