Prospector Partners LLC Takes $565,000 Position in Timberland Bancorp, Inc. (NASDAQ:TSBK)

Prospector Partners LLC purchased a new stake in shares of Timberland Bancorp, Inc. (NASDAQ:TSBK) during the third quarter, Holdings Channel.com reports. The fund purchased 18,672 shares of the savings and loans company’s stock, valued at approximately $565,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSBK. Charles Schwab Investment Management Inc. lifted its holdings in Timberland Bancorp by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,434 shares of the savings and loans company’s stock worth $679,000 after acquiring an additional 1,040 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Timberland Bancorp in the 3rd quarter valued at $251,000. Empowered Funds LLC increased its position in shares of Timberland Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 50,622 shares of the savings and loans company’s stock valued at $1,532,000 after purchasing an additional 2,546 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Timberland Bancorp by 27.7% during the 2nd quarter. Hsbc Holdings PLC now owns 13,661 shares of the savings and loans company’s stock worth $361,000 after purchasing an additional 2,965 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of Timberland Bancorp by 8.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 23,999 shares of the savings and loans company’s stock worth $650,000 after purchasing an additional 1,881 shares during the period. 65.49% of the stock is currently owned by hedge funds and other institutional investors.

Timberland Bancorp Price Performance

TSBK opened at $33.32 on Tuesday. Timberland Bancorp, Inc. has a fifty-two week low of $23.93 and a fifty-two week high of $33.98. The firm has a 50-day moving average of $30.72 and a 200 day moving average of $28.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $265.43 million, a P/E ratio of 11.11 and a beta of 0.66.

Timberland Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This is an increase from Timberland Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, November 15th. Timberland Bancorp’s dividend payout ratio is currently 33.33%.

Insider Transactions at Timberland Bancorp

In related news, COO Jonathan Arthur Fischer sold 1,790 shares of Timberland Bancorp stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $33.02, for a total value of $59,105.80. Following the completion of the sale, the chief operating officer now owns 4,550 shares of the company’s stock, valued at approximately $150,241. This trade represents a 28.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,111 shares of company stock worth $135,819 in the last quarter. Insiders own 3.40% of the company’s stock.

About Timberland Bancorp

Timberland Bancorp, Inc operates as the bank holding company for Timberland Bank that provides various community banking services in Washington. It offers various deposit products, including money market deposit, checking, and regular savings accounts, as well as certificates of deposit. The company also provides one-to four-family residential, multi-family, and commercial real estate loans; and construction lending products, such as custom and owner/builder, speculative one- to four-family, commercial, multi-family, land development, and land development.