Amalgamated Bank Increases Position in Towne Bank (TOWN)

Amalgamated Bank raised its position in Towne Bank (NASDAQ:TOWN) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,021 shares of the bank’s stock after buying an additional 7 shares during the period. Amalgamated Bank’s holdings in Towne Bank were worth $227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position in shares of Towne Bank by 1.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,795 shares of the bank’s stock worth $285,000 after buying an additional 99 shares in the last quarter. 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 worth $221,000 after buying an additional 120 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Towne Bank by 0.5% in the first quarter. Jupiter Asset Management Ltd. now owns 96,300 shares of the bank’s stock valued at $3,120,000 after buying an additional 437 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Towne Bank by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 53,726 shares of the bank’s stock valued at $1,741,000 after buying an additional 1,058 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Towne Bank by 6.6% in the first quarter. Legal & General Group Plc now owns 18,861 shares of the bank’s stock valued at $611,000 after buying an additional 1,174 shares during the period. 42.76% of the stock is currently owned by institutional investors.

Shares of Towne Bank (NASDAQ:TOWN) traded down 0.49% on Friday, hitting $30.35. The company had a trading volume of 214,964 shares. The company has a 50 day moving average of $30.92 and a 200-day moving average of $31.39. Towne Bank has a 12-month low of $22.51 and a 12-month high of $34.55. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 20.79 and a beta of 0.97.

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TOWN has been the topic of several research reports. BidaskClub lowered Towne Bank from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research lowered Towne Bank from a “buy” rating to a “hold” rating in a research report 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.

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

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