Renaissance Technologies LLC Has $23.51 Million Holdings in Towne Bank (TOWN)

Renaissance Technologies LLC boosted its stake in Towne Bank (NASDAQ:TOWN) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 763,287 shares of the bank’s stock after purchasing an additional 46,600 shares during the period. Renaissance Technologies LLC owned about 1.23% of Towne Bank worth $23,509,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TOWN. Vanguard Group Inc. increased its stake in shares of Towne Bank by 0.3% during the second quarter. Vanguard Group Inc. now owns 4,425,268 shares of the bank’s stock valued at $136,298,000 after buying an additional 14,299 shares during the period. BlackRock Inc. increased its stake in shares of Towne Bank by 26,978.6% during the first quarter. BlackRock Inc. now owns 3,590,628 shares of the bank’s stock valued at $116,335,000 after buying an additional 3,577,368 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Towne Bank by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,735,228 shares of the bank’s stock valued at $56,222,000 after buying an additional 131,487 shares during the period. FMR LLC increased its stake in shares of Towne Bank by 2.1% during the first quarter. FMR LLC now owns 1,413,921 shares of the bank’s stock valued at $45,811,000 after buying an additional 29,300 shares during the period. Finally, State Street Corp increased its stake in shares of Towne Bank by 1.0% during the first quarter. State Street Corp now owns 1,055,418 shares of the bank’s stock valued at $34,194,000 after buying an additional 10,715 shares during the period. 42.32% of the stock is currently owned by institutional investors and hedge funds.

Towne Bank (NASDAQ:TOWN) opened at 34.35 on Tuesday. The stock’s 50 day moving average price is $31.81 and its 200 day moving average price is $31.20. The stock has a market capitalization of $2.13 billion, a PE ratio of 23.53 and a beta of 0.99. Towne Bank has a 1-year low of $24.02 and a 1-year high of $34.70.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.56 annualized dividend and a dividend yield of 1.63%. Towne Bank’s payout ratio is 38.10%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Towne Bank from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, July 5th. BidaskClub raised Towne Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $32.00 target price on shares of Towne Bank in a research note on Thursday, October 5th.

TRADEMARK VIOLATION WARNING: This ar

A number of other institutional investors also recently made changes to their positions in TOWN. Vanguard Group Inc. increased its stake in shares of Towne Bank by 0.3% during the second quarter. Vanguard Group Inc. now owns 4,425,268 shares of the bank’s stock valued at $136,298,000 after buying an additional 14,299 shares during the period. BlackRock Inc. increased its stake in shares of Towne Bank by 26,978.6% during the first quarter. BlackRock Inc. now owns 3,590,628 shares of the bank’s stock valued at $116,335,000 after buying an additional 3,577,368 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Towne Bank by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,735,228 shares of the bank’s stock valued at $56,222,000 after buying an additional 131,487 shares during the period. FMR LLC increased its stake in shares of Towne Bank by 2.1% during the first quarter. FMR LLC now owns 1,413,921 shares of the bank’s stock valued at $45,811,000 after buying an additional 29,300 shares during the period. Finally, State Street Corp increased its stake in shares of Towne Bank by 1.0% during the first quarter. State Street Corp now owns 1,055,418 shares of the bank’s stock valued at $34,194,000 after buying an additional 10,715 shares during the period. 42.32% of the stock is currently owned by institutional investors and hedge funds.

Towne Bank (NASDAQ:TOWN) opened at 34.35 on Tuesday. The stock’s 50 day moving average price is $31.81 and its 200 day moving average price is $31.20. The stock has a market capitalization of $2.13 billion, a PE ratio of 23.53 and a beta of 0.99. Towne Bank has a 1-year low of $24.02 and a 1-year high of $34.70.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.56 annualized dividend and a dividend yield of 1.63%. Towne Bank’s payout ratio is 38.10%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Towne Bank from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, July 5th. BidaskClub raised Towne Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $32.00 target price on shares of Towne Bank in a research note on Thursday, October 5th.

TRADEMARK VIOLATION WARNING: This article was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/10/renaissance-technologies-llc-has-23-51-million-holdings-in-towne-bank-town.html.

Towne Bank Profile

TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.

Institutional Ownership by Quarter for Towne Bank (NASDAQ:TOWN)

Receive News & Ratings for Towne Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Towne Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply