Territorial Bancorp Inc. (NASDAQ:TBNK) Sees Large Decrease in Short Interest

Territorial Bancorp Inc. (NASDAQ:TBNK) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 25,000 shares, a decline of 24.2% from the October 15th total of 33,000 shares. Based on an average daily trading volume, of 29,600 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Territorial Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in Territorial Bancorp by 22.9% during the third quarter. Wellington Management Group LLP now owns 786,248 shares of the financial services provider’s stock worth $8,208,000 after purchasing an additional 146,541 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Territorial Bancorp during the 2nd quarter worth approximately $501,000. International Assets Investment Management LLC lifted its holdings in Territorial Bancorp by 944.0% during the 3rd quarter. International Assets Investment Management LLC now owns 34,452 shares of the financial services provider’s stock worth $3,300,000 after buying an additional 31,152 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Territorial Bancorp in the 2nd quarter valued at approximately $37,000. Finally, Acadian Asset Management LLC grew its stake in shares of Territorial Bancorp by 3.7% in the first quarter. Acadian Asset Management LLC now owns 79,342 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 2,801 shares in the last quarter. Hedge funds and other institutional investors own 50.35% of the company’s stock.

Territorial Bancorp Price Performance

Shares of Territorial Bancorp stock traded down $0.03 during mid-day trading on Friday, reaching $10.80. 6,850 shares of the stock traded hands, compared to its average volume of 33,458. The company has a quick ratio of 0.86, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. Territorial Bancorp has a fifty-two week low of $6.92 and a fifty-two week high of $11.64. The stock has a market capitalization of $95.36 million, a PE ratio of -41.54 and a beta of 0.61. The business has a 50-day moving average of $10.43 and a 200 day moving average of $9.26.

Territorial Bancorp (NASDAQ:TBNK) last announced its earnings results on Monday, October 28th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The business had revenue of $18.93 million for the quarter. Territorial Bancorp had a negative return on equity of 0.90% and a negative net margin of 3.01%.

Territorial Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.15 per share. This is a boost from Territorial Bancorp’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 5.56%. Territorial Bancorp’s payout ratio is presently -15.38%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TBNK. Keefe, Bruyette & Woods lifted their target price on Territorial Bancorp from $9.66 to $11.27 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. StockNews.com started coverage on Territorial Bancorp in a research note on Tuesday, November 12th. They issued a “hold” rating for the company.

Territorial Bancorp Company Profile

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.