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.

Read More

Want to see what other hedge funds are holding TOWN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TowneBank (NASDAQ:TOWNGet Rating).

Institutional Ownership by Quarter for TowneBank (NASDAQ:TOWN)

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