StockNews.com initiated coverage on shares of Territorial Bancorp (NASDAQ:TBNK - Free Report) in a research note released on Monday. The brokerage issued a hold rating on the financial services provider's stock.
A number of other research firms have also recently commented on TBNK. Piper Sandler raised shares of Territorial Bancorp from an underweight rating to a neutral rating and boosted their target price for the stock from $8.00 to $8.50 in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods reduced their target price on shares of Territorial Bancorp from $10.00 to $9.66 and set a market perform rating on the stock in a research report on Tuesday, May 14th.
Read Our Latest Stock Report on Territorial Bancorp
Territorial Bancorp Stock Down 0.6 %
Shares of NASDAQ TBNK traded down $0.05 during trading on Monday, reaching $8.44. 26,972 shares of the stock were exchanged, compared to its average volume of 27,034. The business's 50-day moving average price is $7.86 and its 200 day moving average price is $8.89. Territorial Bancorp has a twelve month low of $6.85 and a twelve month high of $14.50. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $74.53 million, a price-to-earnings ratio of 33.96 and a beta of 0.64.
Territorial Bancorp Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be issued a $0.01 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.04 annualized dividend and a yield of 0.47%. Territorial Bancorp's dividend payout ratio is presently 80.00%.
Institutional Trading of Territorial Bancorp
Several institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its holdings in Territorial Bancorp by 3.7% in the first quarter. Acadian Asset Management LLC now owns 79,342 shares of the financial services provider's stock valued at $638,000 after acquiring an additional 2,801 shares in the last quarter. White Pine Capital LLC raised its holdings in Territorial Bancorp by 61.1% in the fourth quarter. White Pine Capital LLC now owns 50,723 shares of the financial services provider's stock valued at $566,000 after acquiring an additional 19,245 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Territorial Bancorp by 1,015.0% in the fourth quarter. International Assets Investment Management LLC now owns 36,795 shares of the financial services provider's stock valued at $410,000 after acquiring an additional 33,495 shares in the last quarter. Finally, Brandywine Global Investment Management LLC raised its holdings in Territorial Bancorp by 1.9% in the third quarter. Brandywine Global Investment Management LLC now owns 86,909 shares of the financial services provider's stock valued at $790,000 after acquiring an additional 1,600 shares in the last quarter. 50.35% of the stock is owned by institutional investors and hedge funds.
About Territorial Bancorp
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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.
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