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Towne Bank
TOWN

106 hedge funds and large institutions have $307M invested in Towne Bank in 2016 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 49 increasing their positions, 25 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

96% more repeat investments, than reductions

Existing positions increased: 49 | Existing positions reduced: 25

5% less funds holding

Funds holding: 111 → 106 (-5)

8% less capital invested

Capital invested by funds: $335M → $307M (-$28.3M)

25% less first-time investments, than exits

New positions opened: 15 | Existing positions closed: 20

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
106
Holders Change
-5
Holders Change %
-4.5%
% of All Funds
2.82%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
15
Increased
49
Reduced
25
Closed
20
Calls
$202K
Puts
–
Net Calls
+$202K
Net Calls Change
+$202K

Top Buyers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$10.5M
2
Bank of New York Mellon
Bank of New York Mellon
New York
+$4.58M
3
Vanguard Group
Vanguard Group
Pennsylvania
+$2.14M
4
MCM
Maltese Capital Management
New York
+$2.13M
5
AQR Capital Management
AQR Capital Management
Connecticut
+$1.5M

Top Sellers

1
MFP
Michael F. Price
-$11.8M
2
CEI
Clark Estates Inc
New York
-$2.72M
3
CPIM
Columbia Partners Investment Management
Virginia
-$2.33M
4
FPA
First Pacific Advisors
California
-$1.8M
5
PCM
Piermont Capital Management
Missouri
-$1.71M
Name Holding Trade Value Shares
Change 		Change in
Stake
OCM
26
Olstein Capital Management
New York
$1.9M +$133K +7,200 +8%
California State Teachers Retirement System (CalSTRS)
27
California State Teachers Retirement System (CalSTRS)
California
$1.85M +$223K +12,047 +14%
Wells Fargo
28
Wells Fargo
California
$1.65M -$12.6K -683 -0.8%
AllianceBernstein
29
AllianceBernstein
Tennessee
$1.56M +$18.5K +1,000 +1%
TA
30
Teachers Advisors
New York
$1.52M +$99.3K +5,370 +7%
RJFSA
31
Raymond James Financial Services Advisors
Florida
$1.51M +$7.81K +422 +0.5%
RhumbLine Advisers
32
RhumbLine Advisers
Massachusetts
$1.32M +$135K +7,280 +12%
OPTFSNA
33
Old Point Trust & Financial Services N A
Virginia
$1.25M +$48.2K +2,606 +4%
LPL Financial
34
LPL Financial
California
$1.24M +$22.9K +1,240 +2%
State Board of Administration of Florida Retirement System
35
State Board of Administration of Florida Retirement System
Florida
$1.23M – – –
Swiss National Bank
36
Swiss National Bank
Switzerland
$1.18M +$231K +12,500 +24%
Wellington Management Group
37
Wellington Management Group
Massachusetts
$1.16M – – –
PP
38
Palladium Partners
Virginia
$1.12M -$7.14K -386 -0.7%
DC
39
Davenport & Co
Virginia
$996K +$94.4K +5,105 +11%
PPA
40
Parametric Portfolio Associates
Washington
$964K +$25K +1,351 +3%
First Trust Advisors
41
First Trust Advisors
Illinois
$950K -$243K -13,158 -21%
SFM
42
Signature Financial Management
Virginia
$933K – – –
ECA
43
Endeavour Capital Advisors
Connecticut
$925K +$892K +48,212 New
SBIA
44
Sheaff Brock Investment Advisors
Indiana
$888K -$53.9K -2,916 -6%
New York State Common Retirement Fund
45
New York State Common Retirement Fund
New York
$864K +$64.7K +3,500 +8%
Bank of America
46
Bank of America
North Carolina
$838K +$312K +16,844 +63%
MERSOM
47
Municipal Employees' Retirement System of Michigan
Michigan
$820K – – –
Citigroup
48
Citigroup
New York
$793K +$433K +23,417 +131%
ZCM
49
Zebra Capital Management
Connecticut
$728K +$143K +7,714 +26%
LNC
50
Lincoln National Corp
Pennsylvania
$668K -$19K -1,028 -3%
1
2
3 4 5

TOWN Hedge Fund Activity: Q1 2016 in Review

106 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Towne Bank (TOWN) for Q1 2016, worth a combined $307M — down 8.4% from $335M a quarter earlier.

Sellers outnumbered buyers: 20 funds closed out of TOWN and 15 opened new positions — a net loss of 5 holders — while 25 trimmed existing stakes and 49 added.

The largest buyer was T. Rowe Price Associates, adding an estimated $10.5M. The largest seller was Michael F. Price, cutting an estimated $11.8M.

  • 106 institutional investors held Towne Bank (TOWN) as of Q1 2016, down from 111 in Q4 2015.
  • Funds reported $307M of Towne Bank stock for Q1 2016, down 8.4% quarter-over-quarter.
  • 15 funds opened new Towne Bank positions in Q1 2016 and 20 closed out, a net change of -5 holders.
  • The largest Towne Bank buyer in Q1 2016 was T. Rowe Price Associates, an estimated $10.5M added.
  • The largest Towne Bank seller in Q1 2016 was Michael F. Price, an estimated $11.8M sold.

Based on aggregated 13F filings for Q1 2016.