Territorial Bancorp Inc. (NASDAQ:TBNK) Sees Significant Decline in Short Interest

Territorial Bancorp Inc. (NASDAQ:TBNK) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 10,300 shares, a drop of 17.6% from the December 31st total of 12,500 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 22,400 shares, the days-to-cover ratio is presently 0.5 days.

Territorial Bancorp Price Performance

Shares of NASDAQ:TBNK traded down $0.28 during midday trading on Monday, hitting $8.75. The company’s stock had a trading volume of 2,790 shares, compared to its average volume of 19,472. The business’s 50 day simple moving average is $9.82 and its 200 day simple moving average is $9.98. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $77.26 million, a P/E ratio of -17.50 and a beta of 0.61. Territorial Bancorp has a 12-month low of $6.92 and a 12-month high of $11.44.

Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). Territorial Bancorp had a negative return on equity of 1.72% and a negative net margin of 5.74%.

Territorial Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, February 14th. Territorial Bancorp’s dividend payout ratio (DPR) is presently -8.00%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Territorial Bancorp in a research report on Friday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Territorial Bancorp

A number of institutional investors have recently bought and sold shares of the company. Four Tree Island Advisory LLC purchased a new position in Territorial Bancorp during the fourth quarter worth about $364,000. CKW Financial Group purchased a new position in Territorial Bancorp during the fourth quarter worth about $35,000. Oddo BHF Asset Management Sas purchased a new position in Territorial Bancorp during the third quarter worth about $3,726,000. Wellington Management Group LLP raised 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 purchasing an additional 146,541 shares during the period. Finally, Atria Investments Inc raised its stake in Territorial Bancorp by 12.7% during the third quarter. Atria Investments Inc now owns 12,204 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,380 shares during the period. 50.35% of the stock is owned by hedge funds and other institutional investors.

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.