John W. Rosenthal Capital Management Inc. Has $3,080,000 Stake in Towne Bank (TOWN)
John W. Rosenthal Capital Management Inc. continued to hold its position in shares of Towne Bank (NASDAQ:TOWN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the bank’s stock at the end of the second quarter. Towne Bank makes up 2.6% of John W. Rosenthal Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. John W. Rosenthal Capital Management Inc. owned approximately 0.16% of Towne Bank worth $3,080,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Towne Bank during the second quarter valued at about $144,000. Ameritas Investment Partners Inc. bought a new position in shares of Towne Bank during the first quarter valued at about $156,000. US Bancorp DE raised its position in shares of Towne Bank by 1,216.4% in the second quarter. US Bancorp DE now owns 5,055 shares of the bank’s stock valued at $156,000 after buying an additional 4,671 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Towne Bank by 17.6% in the second quarter. Victory Capital Management Inc. now owns 6,355 shares of the bank’s stock valued at $196,000 after buying an additional 952 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Towne Bank by 1.8% in the first quarter. Prudential Financial Inc. now owns 6,835 shares of the bank’s stock valued at $221,000 after buying an additional 120 shares in the last quarter. 42.34% of the stock is currently owned by institutional investors and hedge funds.
Towne Bank (NASDAQ:TOWN) traded down 0.65% on Monday, hitting $30.60. 5,759 shares of the company’s stock were exchanged. Towne Bank has a 52-week low of $22.51 and a 52-week high of $34.55. The firm has a 50 day moving average price of $30.89 and a 200-day moving average price of $31.34. The stock has a market cap of $1.89 billion, a P/E ratio of 20.96 and a beta of 0.97.
Several brokerages recently issued reports on TOWN. BidaskClub raised shares of Towne Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research lowered shares of Towne Bank from a “buy” rating to a “hold” rating in a research note on Friday, May 5th.
About Towne Bank
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.
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