Territorial Bancorp Inc. (NASDAQ:TBNK) Sees Large Decrease in Short Interest

Territorial Bancorp Inc. (NASDAQ:TBNK) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 25,000 shares, a drop of 24.2% from the October 15th total of 33,000 shares. Based on an average daily trading volume, of 29,600 shares, the short-interest ratio is presently 0.8 days. Approximately 0.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TBNK shares. StockNews.com initiated coverage on shares of Territorial Bancorp in a research report on Tuesday, November 12th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods upped their target price on shares of Territorial Bancorp from $9.66 to $11.27 and gave the company a “market perform” rating in a research note on Wednesday, August 14th.

Territorial Bancorp Stock Performance

Shares of Territorial Bancorp stock traded down $0.03 on Friday, hitting $10.80. 6,850 shares of the company’s stock were exchanged, compared to its average volume of 33,458. Territorial Bancorp has a 1 year low of $6.92 and a 1 year high of $11.64. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.86 and a current ratio of 0.84. The stock has a market capitalization of $95.36 million, a PE ratio of -41.54 and a beta of 0.61. The company has a 50-day simple moving average of $10.43 and a 200-day simple moving average of $9.26.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $18.93 million during the quarter.

Territorial Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Territorial Bancorp’s previous quarterly dividend of $0.01. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.56%. Territorial Bancorp’s payout ratio is currently -15.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TBNK. Wellington Management Group LLP increased its stake in shares of 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 valued at $8,208,000 after buying an additional 146,541 shares during the period. Atria Investments Inc increased its holdings in shares of Territorial Bancorp by 12.7% in the 3rd quarter. Atria Investments Inc now owns 12,204 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 1,380 shares during the period. International Assets Investment Management LLC raised its position in shares of Territorial Bancorp by 944.0% in the 3rd quarter. International Assets Investment Management LLC now owns 34,452 shares of the financial services provider’s stock worth $3,300,000 after acquiring an additional 31,152 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Territorial Bancorp during the 2nd quarter worth $501,000. Finally, Longfellow Investment Management Co. LLC bought a new stake in Territorial Bancorp during the second quarter valued at about $37,000. Institutional investors 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.