Westport Asset Management Inc. Purchases Shares of 80,909 Timberland Bancorp, Inc. $TSBK

Key Points

• Westport Asset Management acquired 80,909 Timberland Bancorp shares valued at approximately $3.6 million, giving it a 1.03% stake. Institutional investors collectively own 65.49% of the company.
• Timberland Bancorp reported quarterly earnings of $0.98 per share on $21.1 million in revenue, with an 11.72% return on equity and a 26.46% net margin.
• The company raised its quarterly dividend from $0.29 to $0.30 per share, equivalent to a $1.20 annualized dividend and a 2.6% yield. The stock remained rated “Buy” by consensus, despite a slight Weiss Ratings downgrade.

Westport Asset Management Inc. acquired a new stake in shares of Timberland Bancorp, Inc. (NASDAQ:TSBK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,909 shares of the savings and loans company's stock, valued at approximately $3,626,000. Timberland Bancorp accounts for 1.5% of Westport Asset Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Westport Asset Management Inc. owned approximately 1.03% of Timberland Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in TSBK. BlackRock Inc. acquired a new position in shares of Timberland Bancorp during the second quarter worth approximately $30,927,000. Geode Capital Management LLC increased its stake in Timberland Bancorp by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 175,399 shares of the savings and loans company's stock valued at $5,473,000 after purchasing an additional 1,484 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Timberland Bancorp by 0.9% in the third quarter. Bridgeway Capital Management LLC now owns 131,638 shares of the savings and loans company's stock valued at $4,381,000 after buying an additional 1,126 shares in the last quarter. State Street Corp grew its holdings in shares of Timberland Bancorp by 1.9% during the fourth quarter. State Street Corp now owns 126,758 shares of the savings and loans company's stock valued at $4,538,000 after buying an additional 2,322 shares during the last quarter. Finally, Fourthstone LLC grew its holdings in shares of 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 buying an additional 74,011 shares during the last quarter. 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 business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $43.90, for a total transaction of $43,900.00. Following the transaction, the director directly owned 18,468 shares in the company, valued at approximately $810,745.20. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Timberland Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Timberland Bancorp currently has a consensus rating of "Buy".

Timberland Bancorp Trading Down 1.7%

NASDAQ TSBK opened at $46.01 on Thursday. The firm has a market capitalization of $357.96 million, a P/E ratio of 11.53 and a beta of 0.31. The business has a fifty day simple moving average of $44.24 and a 200 day simple moving average of $41.41. Timberland Bancorp, Inc. has a 12 month low of $30.93 and a 12 month high of $49.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04.

Timberland Bancorp (NASDAQ:TSBK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The savings and loans company reported $0.98 earnings per share 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 company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, August 10th. This is an increase from Timberland Bancorp's previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. Timberland Bancorp's payout ratio is 30.08%.

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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