Territorial Bancorp Inc. Declares Quarterly Dividend of $0.01 (NASDAQ:TBNK)

Territorial Bancorp Inc. (NASDAQ:TBNK - Get Free Report) declared a quarterly dividend on Monday, May 13th, Zacks reports. Shareholders of record on Tuesday, May 28th will be given a dividend of 0.01 per share by the financial services provider on Monday, June 10th. This represents a $0.04 annualized dividend and a yield of 0.47%. The ex-dividend date is Friday, May 24th.

Territorial Bancorp has decreased its dividend by an average of 7.0% annually over the last three years. Territorial Bancorp has a payout ratio of 133.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Territorial Bancorp to earn $0.15 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 133.3%.

Territorial Bancorp Price Performance

Shares of Territorial Bancorp stock traded up $0.05 during trading on Wednesday, reaching $8.46. The company's stock had a trading volume of 20,312 shares, compared to its average volume of 27,147. The business has a 50 day moving average price of $7.87 and a 200-day moving average price of $8.87. Territorial Bancorp has a 12-month low of $6.85 and a 12-month high of $14.50. The company has a market capitalization of $74.70 million, a P/E ratio of 33.84 and a beta of 0.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.97.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Piper Sandler raised shares of Territorial Bancorp from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $8.00 to $8.50 in a research note on Tuesday, May 7th. StockNews.com assumed coverage on shares of Territorial Bancorp in a report on Sunday. They issued a "hold" rating for the company. Finally, Keefe, Bruyette & Woods decreased their price target on Territorial Bancorp from $10.00 to $9.66 and set a "market perform" rating on the stock in a research note on Tuesday.

Territorial Bancorp Company Profile

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.