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

StockNews.com initiated coverage on shares of Territorial Bancorp (NASDAQ:TBNK) in a report published on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

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

Territorial Bancorp Trading Up 1.5 %

Shares of NASDAQ:TBNK opened at $10.74 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. Territorial Bancorp has a twelve month low of $6.92 and a twelve month high of $11.64. The firm has a 50 day simple moving average of $10.48 and a 200-day simple moving average of $9.31.

Territorial Bancorp (NASDAQ:TBNK) last issued its quarterly earnings data 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 company had revenue of $18.93 million for 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 announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 5.59%. This is a boost from Territorial Bancorp’s previous quarterly dividend of $0.01. Territorial Bancorp’s payout ratio is presently -15.38%.

Hedge Funds Weigh In On Territorial Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Territorial Bancorp by 22.9% during the third quarter. Wellington Management Group LLP now owns 786,248 shares of the financial services provider’s stock worth $8,208,000 after buying an additional 146,541 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Territorial Bancorp in the second quarter valued at $501,000. International Assets Investment Management LLC boosted its stake in shares of Territorial Bancorp by 944.0% in 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 purchasing an additional 31,152 shares during the period. Longfellow Investment Management Co. LLC bought a new position in Territorial Bancorp during the 2nd quarter valued at $37,000. Finally, Acadian Asset Management LLC boosted its stake in 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 acquiring an additional 2,801 shares during the last quarter. Institutional investors and hedge funds own 50.35% of the company’s 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.