Benchmark Capital Advisors Lowers stake in TowneBank (TOWN)

TowneBank (TOWN) : Benchmark Capital Advisors reduced its stake in TowneBank by 2.81% during the most recent quarter end. The investment management company now holds a total of 100,282 shares of TowneBank which is valued at $2,325,540 after selling 2,900 shares in TowneBank , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.TowneBank makes up approximately 1.83% of Benchmark Capital Advisors’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in TOWN in the latest quarter, The investment management firm added 1,466 additional shares and now holds a total of 6,536 shares of TowneBank which is valued at $151,570. Td Asset Management Inc added TOWN to its portfolio by purchasing 10,492 company shares during the most recent quarter which is valued at $242,785. Sg Americas Securities sold out all of its stake in TOWN during the most recent quarter. The investment firm sold 5,475 shares of TOWN which is valued $124,337.Swiss National Bank boosted its stake in TOWN in the latest quarter, The investment management firm added 28,057 additional shares and now holds a total of 91,915 shares of TowneBank which is valued at $2,087,390. Strs Ohio added TOWN to its portfolio by purchasing 3,179 company shares during the most recent quarter which is valued at $73,657.

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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