TowneBank (NASDAQ:TOWN) Shares Purchased by De Lisle Partners LLP

De Lisle Partners LLP grew its stake in shares of TowneBank (NASDAQ:TOWN) by 192.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,625 shares of the bank’s stock after acquiring an additional 76,731 shares during the period. De Lisle Partners LLP owned about 0.16% of TowneBank worth $3,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TOWN. Innealta Capital LLC acquired a new stake in shares of TowneBank during the 2nd quarter valued at approximately $62,000. Point72 DIFC Ltd bought a new position in TowneBank during the 2nd quarter worth $73,000. KBC Group NV bought a new position in TowneBank during the 3rd quarter worth $100,000. FMR LLC increased its position in TowneBank by 137.8% in the third quarter. FMR LLC now owns 4,882 shares of the bank’s stock worth $161,000 after buying an additional 2,829 shares during the period. Finally, EMC Capital Management lifted its stake in TowneBank by 230.4% in the first quarter. EMC Capital Management now owns 5,703 shares of the bank’s stock valued at $160,000 after buying an additional 3,977 shares during the last quarter. Institutional investors own 55.99% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded shares of TowneBank from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $35.00 to $40.00 in a research report on Wednesday, October 2nd.

TowneBank Stock Down 0.9 %

TOWN stock opened at $36.68 on Thursday. The company has a 50-day simple moving average of $34.09 and a 200 day simple moving average of $31.41. The company has a market capitalization of $2.75 billion, a P/E ratio of 18.58 and a beta of 0.89. TowneBank has a fifty-two week low of $25.70 and a fifty-two week high of $37.77.

TowneBank (NASDAQ:TOWN) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $258.86 million for the quarter, compared to the consensus estimate of $179.80 million. TowneBank had a net margin of 14.89% and a return on equity of 7.32%. During the same period in the previous year, the firm earned $0.60 EPS. Equities analysts anticipate that TowneBank will post 2.07 EPS for the current year.

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.