Towne BankTOWN
Market Cap: $2.53B
About: Towne Bank is a financial services company that places special emphasis on serving the financial needs of individuals, commercial enterprises, and professionals, offering retail and commercial banking services to numerous markets in Virginia and North Carolina. The company has three reportable segments: Banking Segment provides loan and deposit services to retail and commercial customers and provides commercial mortgage brokerage services and investment and asset management services, and the Realty Segment provides residential real estate services and mortgage loans. It also provides resort property management and residential and commercial title insurance, and Insurance Segment provides provide a wide array of insurance products, including property, casualty, life, and health insurance.
Employees: 2,743
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
47% more repeat investments, than reductions
Existing positions increased: 81 | Existing positions reduced: 55
27% more call options, than puts
Call options by funds: $62K | Put options by funds: $49K
0.69% more ownership
Funds ownership: 55.56% [Q1] → 56.26% (+0.69%) [Q2]
2% less capital invested
Capital invested by funds: $1.13B [Q1] → $1.11B (-$19.1M) [Q2]
4% less funds holding
Funds holding: 208 [Q1] → 200 (-8) [Q2]
28% less first-time investments, than exits
New positions opened: 21 | Existing positions closed: 29
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
Keefe, Bruyette & Woods Catherine Mealor 50% 1-year accuracy 7 / 14 met price target | 2%upside $35 | Market Perform Maintained | 29 Jul 2024 |