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

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

Territorial Bancorp Stock Performance

Shares of TBNK stock opened at $9.16 on Wednesday. The company’s fifty day simple moving average is $10.22 and its 200-day simple moving average is $9.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. Territorial Bancorp has a 12 month low of $6.92 and a 12 month high of $11.60.

Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly 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 firm had revenue of $18.93 million for the quarter.

Territorial Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a $0.15 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from Territorial Bancorp’s previous quarterly dividend of $0.01. This represents a $0.60 annualized dividend and a dividend yield of 6.55%. Territorial Bancorp’s dividend payout ratio is presently -15.38%.

Hedge Funds Weigh In On Territorial Bancorp

Large investors have recently modified their holdings of the stock. Atria Investments Inc raised its position in shares of Territorial Bancorp by 12.7% in the third quarter. Atria Investments Inc now owns 12,204 shares of the financial services provider’s stock valued at $127,000 after purchasing 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 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. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Territorial Bancorp in the second quarter valued at about $501,000. Oddo BHF Asset Management Sas bought a new position in shares of Territorial Bancorp in the third quarter valued at about $3,726,000. Finally, Wellington Management Group LLP raised its position in shares of Territorial Bancorp by 22.9% in 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 purchasing an additional 146,541 shares during the period. 50.35% of the stock is owned by 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.