Territorial Bancorp Inc. (NASDAQ:TBNK) Plans $0.01 Quarterly Dividend

Territorial Bancorp Inc. (NASDAQ:TBNK) announced a quarterly dividend on Friday, July 26th, Zacks reports. Shareholders of record on Friday, August 9th will be paid a dividend of 0.01 per share by the financial services provider on Friday, August 23rd. This represents a $0.04 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, August 9th.

Territorial Bancorp has decreased its dividend by an average of 7.0% per year over the last three years. Territorial Bancorp has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings.

Territorial Bancorp Stock Performance

Shares of NASDAQ:TBNK traded down $0.09 during midday trading on Wednesday, reaching $8.89. 2,681 shares of the company’s stock traded hands, compared to its average volume of 24,657. Territorial Bancorp has a one year low of $6.85 and a one year high of $11.64. The stock has a 50 day moving average of $8.45 and a 200 day moving average of $8.52. The company has a market cap of $78.52 million, a price-to-earnings ratio of 35.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.86 and a current ratio of 0.86.

Analyst Upgrades and Downgrades

TBNK has been the topic of several research analyst reports. StockNews.com began coverage on Territorial Bancorp in a report on Wednesday, July 31st. They set a “hold” rating on the stock. Piper Sandler raised Territorial Bancorp from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $8.50 in a report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods cut their price target on Territorial Bancorp from $10.00 to $9.66 and set a “market perform” rating for the company in a report on Tuesday, May 14th.

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.