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

Territorial Bancorp Inc. (NASDAQ:TBNK) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 25,000 shares, a decrease 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 company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TBNK shares. StockNews.com started coverage on Territorial Bancorp in a research note on Tuesday. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Territorial Bancorp from $9.66 to $11.27 and gave the company a “market perform” rating in a report on Wednesday, August 14th.

Institutional Investors Weigh In On Territorial Bancorp

Several hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in Territorial Bancorp during the second quarter valued at about $27,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Territorial Bancorp during the second quarter worth about $501,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Territorial Bancorp in the 2nd quarter worth about $37,000. Finally, Atria Investments Inc lifted its position in Territorial Bancorp by 12.7% in the 3rd quarter. Atria Investments Inc now owns 12,204 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,380 shares during the last quarter. 50.35% of the stock is currently owned by institutional investors.

Territorial Bancorp Stock Performance

TBNK traded down $0.21 during trading hours on Friday, hitting $10.62. The stock had a trading volume of 974 shares, compared to its average volume of 25,499. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The stock has a market cap of $93.77 million, a PE ratio of -40.84 and a beta of 0.61. Territorial Bancorp has a 1 year low of $6.92 and a 1 year high of $11.64. The company’s fifty day simple moving average is $10.40 and its 200 day simple moving average is $9.23.

Territorial Bancorp (NASDAQ:TBNK) last announced 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). Territorial Bancorp had a negative net margin of 3.01% and a negative return on equity of 0.90%. The company had revenue of $18.93 million during the quarter.

Territorial Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.65%. 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. Territorial Bancorp’s dividend payout ratio is -15.38%.

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.