Territorial Bancorp Inc. (NASDAQ:TBNK) Raises Dividend to $0.15 Per Share

Territorial Bancorp Inc. (NASDAQ:TBNK) announced a quarterly dividend on Friday, October 25th, Zacks reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.15 per share by the financial services provider on Friday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date is Friday, November 8th. This is a boost from Territorial Bancorp’s previous quarterly dividend of $0.01.

Territorial Bancorp has decreased its dividend by an average of 7.0% annually over the last three years. Territorial Bancorp has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings.

Territorial Bancorp Trading Up 2.1 %

Shares of NASDAQ:TBNK opened at $10.30 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50 day moving average price is $10.22 and its two-hundred day moving average price is $9.07. Territorial Bancorp has a 12-month low of $6.90 and a 12-month high of $11.64.

Territorial Bancorp (NASDAQ:TBNK) last released its earnings results on Monday, October 28th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). Territorial Bancorp had a negative return on equity of 0.90% and a negative net margin of 3.01%. The company had revenue of $18.93 million for the quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their target price on Territorial Bancorp from $9.66 to $11.27 and gave the company a “market perform” rating in a report on Wednesday, August 14th. StockNews.com started coverage on Territorial Bancorp in a research report on Monday. They issued a “hold” rating on the stock.

Territorial Bancorp Company Profile

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.