Insider Buying: Gary Torgow Purchases 2,000 Shares of Talmer Bancorp Stock (TLMR)
Talmer Bancorp (NASDAQ:TLMR) Chairman Gary Torgow purchased 2,000 shares of Talmer Bancorp stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $14.05 per share, with a total value of $28,100.00. Following the completion of the acquisition, the chairman now directly owns 556,490 shares of the company’s stock, valued at approximately $7,818,685. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Talmer Bancorp from $16.00 to $17.00 in a research note on Friday, August 8th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $16.33.
Talmer Bancorp (NASDAQ:TLMR) traded up 1.15% during mid-day trading on Monday, hitting $14.09. 163,693 shares of the company’s stock traded hands. Talmer Bancorp has a 52 week low of $13.00 and a 52 week high of $15.42. The stock’s 50-day moving average is $13.73 and its 200-day moving average is $13.75. The company has a market cap of $992.7 million and a price-to-earnings ratio of 12.62.
Talmer Bancorp (NASDAQ:TLMR) last announced its earnings results on Wednesday, August 6th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.14. Analysts expect that Talmer Bancorp will post $1.18 EPS for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, August 14th.
Talmer Bancorp, Inc is a bank holding company. The Company owns three subsidiary banks, Talmer Bank and Trust and Talmer West Bank, which are Michigan state chartered banks, and First Place Bank, which is a federal savings association.
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