Lightrock Netherlands B.V. Purchases New Holdings in TowneBank (NASDAQ:TOWN)

Lightrock Netherlands B.V. purchased a new stake in TowneBank (NASDAQ:TOWN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 197,096 shares of the bank’s stock, valued at approximately $6,746,000. TowneBank makes up about 2.4% of Lightrock Netherlands B.V.’s portfolio, making the stock its 21st largest position. Lightrock Netherlands B.V. owned about 0.26% of TowneBank as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Salem Investment Counselors Inc. acquired a new position in shares of TowneBank in the fourth quarter valued at $34,000. Blue Trust Inc. increased its holdings in TowneBank by 258.5% in the 4th quarter. Blue Trust Inc. now owns 1,434 shares of the bank’s stock valued at $47,000 after buying an additional 1,034 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of TowneBank in the 3rd quarter valued at $73,000. KBC Group NV bought a new position in shares of TowneBank during the 3rd quarter worth about $100,000. Finally, FMR LLC boosted its position in shares of TowneBank by 137.8% during the 3rd quarter. FMR LLC now owns 4,882 shares of the bank’s stock valued at $161,000 after acquiring an additional 2,829 shares in the last quarter. Institutional investors own 55.99% of the company’s stock.

TowneBank Stock Performance

TowneBank stock opened at $36.69 on Tuesday. The business’s fifty day moving average is $35.11 and its two-hundred day moving average is $34.24. The firm has a market cap of $2.75 billion, a P/E ratio of 17.07 and a beta of 0.93. TowneBank has a 52 week low of $25.70 and a 52 week high of $38.28.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. TowneBank had a net margin of 15.77% and a return on equity of 7.77%. On average, equities research analysts predict that TowneBank will post 2.6 earnings per share for the current year.

TowneBank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Tuesday, December 31st. TowneBank’s dividend payout ratio (DPR) is presently 46.51%.

Analyst Ratings Changes

Separately, Stephens reissued an “equal weight” rating and issued a $41.00 price target 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.