Context Bh Capital Management Lp Lowers stake in TowneBank (TOWN)

TowneBank (TOWN) : Context Bh Capital Management Lp reduced its stake in TowneBank by 36.33% during the most recent quarter end. The investment management company now holds a total of 92,204 shares of TowneBank which is valued at $2,093,953 after selling 52,612 shares in TowneBank , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.TowneBank makes up approximately 1.48% of Context Bh Capital Management Lp’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc added TOWN to its portfolio by purchasing 17,548 company shares during the most recent quarter which is valued at $406,587. Sphinx Trading Lp sold out all of its stake in TOWN during the most recent quarter. The investment firm sold 1,200 shares of TOWN which is valued $27,540.Davenport Co boosted its stake in TOWN in the latest quarter, The investment management firm added 5,165 additional shares and now holds a total of 57,064 shares of TowneBank which is valued at $1,311,901. TowneBank makes up approx 0.02% of Davenport Co’s portfolio. Creative Planning sold out all of its stake in TOWN during the most recent quarter. The investment firm sold 300 shares of TOWN which is valued $6,897.

TowneBank opened for trading at $23.1 and hit $23.33 on the upside on Monday, eventually ending the session at $23.19, with a gain of 0.22% or 0.05 points. The heightened volatility saw the trading volume jump to 1,53,413 shares. Company has a market cap of $1,198 M.

TowneBank offers retail and commercial banking services to the Greater Hampton Roads region in southeastern Virginia and northeastern North Carolina. The Banking segment provides loan and deposit services to retail and commercial customers. It also provides commercial mortgage brokerage services and a variety of investment and asset management services. The Realty segment provides complete residential real estate services originations of a variety of mortgage loans resort property management and commercial residential title insurance. The Insurance segment provides property and casualty insurance as well as employee and group benefits through Towne Insurance and TFA Benefits. Through Towne Insurance it offers a full line of commercial and consumer insurance products and financial services. Through TFA Benefits it offers health life dental vision and disability plans to employers brokers and individuals.

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