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

StockNews.com initiated coverage on shares of Territorial Bancorp (NASDAQ:TBNK) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods lifted their price objective on Territorial Bancorp from $9.66 to $11.27 and gave the company a “market perform” rating in a research report on Wednesday, August 14th.

Territorial Bancorp Stock Performance

TBNK stock opened at $10.81 on Thursday. The company has a market cap of $95.45 million, a P/E ratio of -41.58 and a beta of 0.61. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. Territorial Bancorp has a 1 year low of $6.92 and a 1 year high of $11.64. The stock’s fifty day moving average price is $10.64 and its 200-day moving average price is $9.46.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The business had revenue of $18.93 million during 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Territorial Bancorp’s previous quarterly dividend of $0.01. Territorial Bancorp’s dividend payout ratio is presently -15.38%.

Hedge Funds Weigh In On Territorial Bancorp

Several large investors have recently made changes to their positions in TBNK. Wellington Management Group LLP raised its stake in Territorial Bancorp by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 786,248 shares of the financial services provider’s stock valued at $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 valued at approximately $501,000. International Assets Investment Management LLC raised its position in shares of Territorial Bancorp by 944.0% during the third quarter. International Assets Investment Management LLC now owns 34,452 shares of the financial services provider’s stock valued at $3,300,000 after buying an additional 31,152 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Territorial Bancorp in the second quarter worth $37,000. Finally, Atria Investments Inc boosted its position in shares of Territorial Bancorp by 12.7% during the third quarter. Atria Investments Inc now owns 12,204 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 1,380 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.