Bank of New York Mellon Corp Purchases Shares of 25,680 Timberland Bancorp, Inc. $TSBK

Key Points

• Bank of New York Mellon acquired 25,680 Timberland Bancorp shares worth approximately $1.15 million, representing about 0.33% of the company. Institutional investors collectively own 65.49% of TSBK.
• Timberland Bancorp reported quarterly EPS of $0.98 on $21.10 million in revenue, with an 11.72% return on equity and a 26.46% net margin.
• The company raised its quarterly dividend to $0.30 per share, or $1.20 annualized, producing a 2.6% yield; analysts maintain a consensus “Buy” rating.

Bank of New York Mellon Corp acquired a new stake in Timberland Bancorp, Inc. (NASDAQ:TSBK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 25,680 shares of the savings and loans company's stock, valued at approximately $1,151,000. Bank of New York Mellon Corp owned approximately 0.33% of Timberland Bancorp as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in Timberland Bancorp by 20,325.0% during the second quarter. EverSource Wealth Advisors LLC now owns 817 shares of the savings and loans company's stock worth $25,000 after acquiring an additional 813 shares in the last quarter. Strs Ohio bought a new stake in shares of Timberland Bancorp in the 1st quarter worth about $33,000. Raymond James Financial Inc. acquired a new stake in shares of Timberland Bancorp during the 2nd quarter worth about $62,000. Tower Research Capital LLC TRC increased its position in shares of Timberland Bancorp by 610.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,024 shares of the savings and loans company's stock worth $63,000 after purchasing an additional 1,739 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Timberland Bancorp by 230.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,329 shares of the savings and loans company's stock valued at $111,000 after purchasing an additional 2,321 shares during the last quarter. 65.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Timberland Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat, Timberland Bancorp has a consensus rating of "Buy".

Insider Activity

In other Timberland Bancorp news, Director David Smith sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $43.90, for a total value of $43,900.00. Following the transaction, the director directly owned 18,468 shares of the company's stock, 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 can be accessed through the SEC website. Company insiders own 3.60% of the company's stock.

Timberland Bancorp Stock Performance

TSBK stock opened at $46.55 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50 day moving average price of $45.09 and a 200 day moving average price of $42.21. Timberland Bancorp, Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $49.38. The stock has a market capitalization of $362.16 million, a PE ratio of 11.67 and a beta of 0.31.

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 (EPS) for the quarter. The business 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 firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, August 10th. This is a boost from Timberland Bancorp's previous quarterly dividend of $0.29. Timberland Bancorp's dividend payout ratio is currently 30.08%.

Timberland Bancorp Company Profile

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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