StockNews.com Initiates Coverage on Territorial Bancorp (NASDAQ:TBNK)

StockNews.com assumed coverage on shares of Territorial Bancorp (NASDAQ:TBNK) in a research report sent to investors on Tuesday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other research analysts have also commented on TBNK. Keefe, Bruyette & Woods lowered their price objective on shares of Territorial Bancorp from $10.00 to $9.66 and set a market perform rating on the stock in a research note on Tuesday, May 14th. Piper Sandler upgraded shares of Territorial Bancorp from an underweight rating to a neutral rating and lifted their price target for the stock from $8.00 to $8.50 in a research report on Tuesday, May 7th.

Territorial Bancorp Trading Up 3.5 %

NASDAQ:TBNK opened at $10.30 on Tuesday. The firm has a market capitalization of $90.95 million, a P/E ratio of 41.20 and a beta of 0.61. The business has a 50 day simple moving average of $8.28 and a 200 day simple moving average of $8.64. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.86. Territorial Bancorp has a 12-month low of $6.85 and a 12-month high of $14.50.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly earnings results on Friday, May 3rd. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). Territorial Bancorp had a return on equity of 0.89% and a net margin of 3.06%. The firm had revenue of $9.35 million for the quarter, compared to the consensus estimate of $9.86 million. Equities research analysts predict that Territorial Bancorp will post -0.15 EPS for the current year.

Territorial Bancorp Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 28th were given a $0.01 dividend. This represents a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, June 27th. Territorial Bancorp’s dividend payout ratio (DPR) is 16.00%.

Hedge Funds Weigh In On Territorial Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in shares of Territorial Bancorp by 1,015.0% during the fourth quarter. International Assets Investment Management LLC now owns 36,795 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 33,495 shares in the last quarter. White Pine Capital LLC raised its stake in shares of Territorial Bancorp by 61.1% during the 4th quarter. White Pine Capital LLC now owns 50,723 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 19,245 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Territorial Bancorp by 3.7% during the 1st quarter. Acadian Asset Management LLC now owns 79,342 shares of the financial services provider’s stock valued at $638,000 after buying an additional 2,801 shares during the last quarter. 50.35% of the stock is currently owned by hedge funds and other institutional investors.

About Territorial Bancorp

Territorial Bancorp Inc operates as the holding company for Territorial Savings Bank that engages in the provision of various financial services to individuals, families, and businesses in the State of Hawaii. The company offers a range of deposit accounts, including passbook and statement savings, money market, commercial and regular checking, and Super NOW accounts, as well as certificates of deposit.