Territorial Bancorp Inc. (NASDAQ:TBNK – Get Rating) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 25,400 shares, an increase of 27.0% from the December 31st total of 20,000 shares. Based on an average trading volume of 16,200 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.3% of the shares of the stock are short sold.
Institutional Trading of Territorial Bancorp
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in Territorial Bancorp by 3.7% during the 3rd quarter. Alliancebernstein L.P. now owns 402,584 shares of the financial services provider’s stock worth $7,464,000 after purchasing an additional 14,549 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in Territorial Bancorp by 5.8% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 103,209 shares of the financial services provider’s stock worth $1,913,000 after purchasing an additional 5,665 shares in the last quarter. White Pine Capital LLC increased its position in Territorial Bancorp by 374.7% during the 3rd quarter. White Pine Capital LLC now owns 51,766 shares of the financial services provider’s stock worth $960,000 after purchasing an additional 40,862 shares in the last quarter. Fourthstone LLC increased its position in Territorial Bancorp by 42.9% during the 1st quarter. Fourthstone LLC now owns 39,811 shares of the financial services provider’s stock worth $955,000 after purchasing an additional 11,949 shares in the last quarter. Finally, State Street Corp increased its position in Territorial Bancorp by 3.8% during the 1st quarter. State Street Corp now owns 35,532 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 1,289 shares in the last quarter. Hedge funds and other institutional investors own 43.51% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on TBNK. Piper Sandler reduced their target price on Territorial Bancorp to $18.00 in a report on Friday, September 30th. Compass Point reduced their target price on Territorial Bancorp to $28.00 in a report on Tuesday, November 1st. Finally, StockNews.com began coverage on Territorial Bancorp in a report on Wednesday, October 26th. They issued a “hold” rating for the company.
Territorial Bancorp Trading Down 1.2 %
NASDAQ:TBNK opened at $24.02 on Friday. The company has a market capitalization of $218.82 million, a PE ratio of 12.78 and a beta of 0.55. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.55. Territorial Bancorp has a 52-week low of $17.93 and a 52-week high of $25.60. The stock has a fifty day simple moving average of $23.39 and a 200-day simple moving average of $21.54.
Territorial Bancorp (NASDAQ:TBNK – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The business had revenue of $14.96 million during the quarter, compared to the consensus estimate of $14.90 million. Territorial Bancorp had a return on equity of 6.59% and a net margin of 25.62%. On average, equities research analysts expect that Territorial Bancorp will post 1.85 earnings per share for the current fiscal year.
Territorial Bancorp Cuts Dividend
The company also recently declared a dividend, which was paid on Thursday, December 29th. Stockholders of record on Monday, December 19th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, December 16th. Territorial Bancorp’s dividend payout ratio (DPR) is presently 48.94%.
About Territorial Bancorp
Territorial Bancorp, Inc operates as the bank holding company for Territorial Savings Bank, which provides financial services to individuals, families, and businesses in Hawaii. Its business consists primarily of accepting deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in one- to four-family residential mortgage loans and investment securities.
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