Algert Global LLC Buys New Position in Timberland Bancorp, Inc. $TSBK

Key Points

• Algert Global acquired 29,559 shares of Timberland Bancorp in the second quarter, valued at approximately $1.325 million and representing about 0.38% of the company. Several other hedge funds also initiated or increased positions, with institutional investors owning 65.49% of outstanding shares.
• Timberland Bancorp reported quarterly earnings of $0.98 per share on $21.10 million in revenue, while raising its quarterly dividend to $0.30 per share, equivalent to a 2.6% annualized yield.
• TSBK shares opened at $46.40, near their 12-month high of $49.38. The stock retains a consensus “Buy” rating, although Weiss Ratings recently lowered its rating from “buy (b+)” to “buy (b).”

Algert Global LLC acquired a new stake in Timberland Bancorp, Inc. (NASDAQ:TSBK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 29,559 shares of the savings and loans company's stock, valued at approximately $1,325,000. Algert Global LLC owned approximately 0.38% of Timberland Bancorp as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. De Lisle Partners LLP bought a new stake in shares of Timberland Bancorp in the 2nd quarter worth about $2,922,000. Westport Asset Management Inc. bought a new stake in shares of Timberland Bancorp in the 2nd quarter worth approximately $3,626,000. Davis Asset Management L.P. acquired a new position in Timberland Bancorp during the 2nd quarter valued at approximately $7,818,000. Goldman Sachs Group Inc. lifted its position in Timberland Bancorp by 9.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 64,383 shares of the savings and loans company's stock valued at $2,305,000 after purchasing an additional 5,408 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Timberland Bancorp by 3.7% in the 1st quarter. Empowered Funds LLC now owns 53,481 shares of the savings and loans company's stock worth $1,612,000 after buying an additional 1,909 shares in the last quarter. Hedge funds and other institutional investors own 65.49% of the company's stock.

Insider Buying and Selling at Timberland Bancorp

In related news, Director David Alan Smith sold 1,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $43.90, for a total transaction of $43,900.00. Following the completion of the sale, the director directly owned 18,468 shares in the company, valued at approximately $810,745.20. This trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.60% of the company's stock.

Timberland Bancorp Trading Up 0.3%

Shares of NASDAQ TSBK opened at $46.40 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.04. Timberland Bancorp, Inc. has a 12 month low of $30.93 and a 12 month high of $49.38. The company has a market cap of $360.99 million, a price-to-earnings ratio of 11.63 and a beta of 0.31. The business has a fifty day simple moving average of $44.79 and a 200-day simple moving average of $41.74.

Timberland Bancorp (NASDAQ:TSBK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The savings and loans company reported $0.98 earnings per share for the quarter. The firm had revenue of $21.10 million for the quarter. Timberland Bancorp had a return on equity of 11.72% and a net margin of 26.46%.

Timberland Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a dividend of $0.30 per share. This is an increase from Timberland Bancorp's previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, August 10th. Timberland Bancorp's dividend payout ratio is 30.08%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Timberland Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Timberland Bancorp has a consensus rating of "Buy".

About Timberland Bancorp

Timberland Bancorp, Inc is the bank holding company for Timberland Bank, a Washington-chartered commercial bank serving individuals and businesses in southwestern Washington. The company conducts its operations through Timberland Bank, offering a range of community banking services tailored to local market needs. As a publicly traded company on the NASDAQ under the symbol TSBK, Timberland Bancorp focuses on delivering personalized financial solutions while maintaining a community-oriented approach.

Timberland Bank's core products include deposit accounts such as checking, savings and money market accounts, certificates of deposit and retirement accounts.

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