Prospera Financial Services Inc Takes $167,000 Position in TowneBank (NASDAQ:TOWN)

Prospera Financial Services Inc purchased a new stake in shares of TowneBank (NASDAQ:TOWNGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,589 shares of the bank’s stock, valued at approximately $167,000.

Other large investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in shares of TowneBank by 2,059.0% in the 1st quarter. Lindbrook Capital LLC now owns 842 shares of the bank’s stock valued at $25,000 after purchasing an additional 803 shares during the last quarter. City State Bank purchased a new stake in TowneBank in the 4th quarter valued at about $27,000. Allworth Financial LP lifted its position in TowneBank by 7,776.9% in the first quarter. Allworth Financial LP now owns 1,024 shares of the bank’s stock valued at $31,000 after buying an additional 1,011 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in TowneBank by 6.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,584 shares of the bank’s stock worth $175,000 after buying an additional 327 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of TowneBank during the first quarter valued at about $234,000.

TowneBank Stock Performance

Shares of TOWN stock opened at $29.17 on Friday. TowneBank has a one year low of $26.18 and a one year high of $34.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.89 and a current ratio of 0.91. The firm’s 50 day moving average price is $28.33 and its 200-day moving average price is $29.48. The firm has a market cap of $2.12 billion, a P/E ratio of 11.62 and a beta of 0.98.

TowneBank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Stockholders of record on Thursday, June 30th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This is a boost from TowneBank’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.15%. TowneBank’s payout ratio is presently 36.65%.

TowneBank Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for TowneBank (NASDAQ:TOWN)

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