Davis Asset Management L.P. Acquires New Holdings in Timberland Bancorp, Inc. $TSBK

Key Points

• Davis Asset Management acquired 174,476 shares of Timberland Bancorp in the second quarter, worth approximately $7.8 million and representing about 2.24% of the company. Institutional investors collectively own 65.49% of outstanding shares.
• Timberland Bancorp reported quarterly earnings of $0.98 per share on $21.1 million in revenue, with a 26.46% net margin and 11.72% return on equity. The stock recently traded at $46.55, near its 52-week high of $49.38.
• The company increased its quarterly dividend to $0.30 per share, or $1.20 annually, implying a 2.6% yield and a 30.08% payout ratio. Despite a slight downgrade by Weiss Ratings, the stock retains a consensus “Buy” rating.

Davis Asset Management L.P. acquired a new position in Timberland Bancorp, Inc. (NASDAQ:TSBK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 174,476 shares of the savings and loans company's stock, valued at approximately $7,818,000. Davis Asset Management L.P. owned approximately 2.24% of Timberland Bancorp as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Timberland Bancorp in the 2nd quarter valued at $30,927,000. Geode Capital Management LLC raised its position in shares of Timberland Bancorp by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 175,399 shares of the savings and loans company's stock worth $5,473,000 after acquiring an additional 1,484 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Timberland Bancorp by 0.9% during the 3rd quarter. Bridgeway Capital Management LLC now owns 131,638 shares of the savings and loans company's stock worth $4,381,000 after purchasing an additional 1,126 shares during the last quarter. State Street Corp lifted its stake in shares of Timberland Bancorp by 1.9% during the 4th quarter. State Street Corp now owns 126,758 shares of the savings and loans company's stock worth $4,538,000 after purchasing an additional 2,322 shares during the last quarter. Finally, Fourthstone LLC boosted its position in Timberland Bancorp by 207.5% during the fourth quarter. Fourthstone LLC now owns 109,687 shares of the savings and loans company's stock valued at $3,927,000 after purchasing an additional 74,011 shares in the last quarter. Hedge funds and other institutional investors own 65.49% of the company's stock.

Timberland Bancorp Trading Up 0.5%

NASDAQ:TSBK opened at $46.55 on Friday. Timberland Bancorp, Inc. has a 52 week low of $30.93 and a 52 week high of $49.38. The firm has a 50 day moving average of $44.40 and a 200 day moving average of $41.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $362.16 million, a price-to-earnings ratio of 11.67 and a beta of 0.31.

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

Timberland Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. This is a positive change from Timberland Bancorp's previous quarterly dividend of $0.29. Timberland Bancorp's payout ratio is 30.08%.

Insider Buying and Selling at Timberland Bancorp

In other news, Director David Alan Smith sold 1,000 shares of the firm's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $43.90, for a total value of $43,900.00. Following the completion of the sale, the director owned 18,468 shares of the company's stock, valued at $810,745.20. This trade represents a 5.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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 data from MarketBeat, the stock presently has a consensus rating of "Buy".

Timberland Bancorp 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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