Pl Capital Advisors Lowers stake in TowneBank (TOWN)

TowneBank (TOWN) : Pl Capital Advisors reduced its stake in TowneBank by 90.7% during the most recent quarter end. The investment management company now holds a total of 8,133 shares of TowneBank which is valued at $188,604 after selling 79,318 shares in TowneBank , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.TowneBank makes up approximately 0.06% of Pl Capital Advisors’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc boosted its stake in TOWN in the latest quarter, The investment management firm added 9,357 additional shares and now holds a total of 25,215 shares of TowneBank which is valued at $586,753.Motley Fool Asset Management reduced its stake in TOWN by selling 22,883 shares or 7.95% in the most recent quarter. The Hedge Fund company now holds 265,067 shares of TOWN which is valued at $6,133,650. TowneBank makes up approx 1.29% of Motley Fool Asset Management’s portfolio.First Trust Advisors Lp boosted its stake in TOWN in the latest quarter, The investment management firm added 23,196 additional shares and now holds a total of 72,714 shares of TowneBank which is valued at $1,682,602. TowneBank makes up approx 0.01% of First Trust Advisors Lp’s portfolio.California Public Employees Retirement System boosted its stake in TOWN in the latest quarter, The investment management firm added 18,293 additional shares and now holds a total of 136,993 shares of TowneBank which is valued at $3,111,111.Alps Advisors Inc reduced its stake in TOWN by selling 1,616 shares or 6.84% in the most recent quarter. The Hedge Fund company now holds 22,014 shares of TOWN which is valued at $510,064.

TowneBank opened for trading at $23.24 and hit $23.46 on the upside on Wednesday, eventually ending the session at $23.37, with a gain of 0.52% or 0.12 points. The heightened volatility saw the trading volume jump to 96,487 shares. Company has a market cap of $1,207 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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