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

StockNews.com started coverage on shares of Territorial Bancorp (NASDAQ:TBNK) in a research report released on Saturday. The brokerage issued a hold rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of Territorial Bancorp from $10.00 to $9.66 and set a market perform rating on the stock in a report on Tuesday, May 14th. Piper Sandler upgraded shares of Territorial Bancorp from an underweight rating to a neutral rating and boosted their target price for the company from $8.00 to $8.50 in a report on Tuesday, May 7th.

Territorial Bancorp Stock Performance

Shares of Territorial Bancorp stock opened at $7.96 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. Territorial Bancorp has a twelve month low of $6.85 and a twelve month high of $14.50. The stock has a market cap of $70.29 million, a price-to-earnings ratio of 31.84 and a beta of 0.61. The company’s fifty day moving average is $7.91 and its 200 day moving average is $8.88.

Territorial Bancorp (NASDAQ:TBNK) last issued its quarterly earnings data on Friday, May 3rd. The financial services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). Territorial Bancorp had a return on equity of 0.89% and a net margin of 3.06%. The business had revenue of $9.35 million during the quarter, compared to the consensus estimate of $9.86 million. Sell-side analysts forecast that Territorial Bancorp will post -0.15 EPS for the current year.

Territorial Bancorp Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, June 27th. This represents a dividend yield of 0.38%. Territorial Bancorp’s dividend payout ratio is currently 16.00%.

Hedge Funds Weigh In On Territorial Bancorp

Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in shares of Territorial Bancorp by 3.7% during the first quarter. Acadian Asset Management LLC now owns 79,342 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 2,801 shares during the period. White Pine Capital LLC raised its holdings in shares of Territorial Bancorp by 61.1% during the fourth quarter. White Pine Capital LLC now owns 50,723 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 19,245 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Territorial Bancorp by 1,015.0% during the fourth quarter. International Assets Investment Management LLC now owns 36,795 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 33,495 shares during the period. Institutional investors and hedge funds own 50.35% of the company’s stock.

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.