Clover Partners L.P. decreased its stake in Territorial Bancorp Inc (NASDAQ:TBNK) by 62.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,224 shares of the financial services provider’s stock after selling 181,173 shares during the quarter. Territorial Bancorp makes up 3.2% of Clover Partners L.P.’s portfolio, making the stock its 14th biggest holding. Clover Partners L.P.’s holdings in Territorial Bancorp were worth $3,310,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Stone Ridge Asset Management LLC purchased a new stake in Territorial Bancorp in the fourth quarter worth about $281,000. Deutsche Bank AG increased its position in Territorial Bancorp by 104.2% in the fourth quarter. Deutsche Bank AG now owns 25,549 shares of the financial services provider’s stock worth $786,000 after buying an additional 13,040 shares in the last quarter. Renaissance Technologies LLC increased its position in Territorial Bancorp by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 574,800 shares of the financial services provider’s stock worth $17,744,000 after buying an additional 10,200 shares in the last quarter. Brandes Investment Partners LP increased its position in Territorial Bancorp by 75.9% in the fourth quarter. Brandes Investment Partners LP now owns 47,218 shares of the financial services provider’s stock worth $1,457,000 after buying an additional 20,378 shares in the last quarter. Finally, Martingale Asset Management L P increased its position in Territorial Bancorp by 11.0% in the fourth quarter. Martingale Asset Management L P now owns 31,206 shares of the financial services provider’s stock worth $964,000 after buying an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 45.84% of the company’s stock.
In related news, Director Howard Y. Ikeda sold 3,736 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $30.59, for a total transaction of $114,284.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.10% of the company’s stock.
A number of brokerages have commented on TBNK. BidaskClub upgraded Territorial Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 8th. ValuEngine upgraded Territorial Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 price target on shares of Territorial Bancorp in a research report on Tuesday, February 27th. Zacks Investment Research cut Territorial Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $34.00 target price on shares of Territorial Bancorp in a research report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.00.
Shares of Territorial Bancorp Inc (NASDAQ TBNK) opened at $30.64 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 0.90. Territorial Bancorp Inc has a 1 year low of $28.12 and a 1 year high of $33.47. The stock has a market capitalization of $306.77, a PE ratio of 19.39 and a beta of 0.26.
Territorial Bancorp (NASDAQ:TBNK) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). Territorial Bancorp had a return on equity of 7.24% and a net margin of 20.73%. The business had revenue of $15.76 million for the quarter, compared to analysts’ expectations of $15.90 million. analysts forecast that Territorial Bancorp Inc will post 2.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Wednesday, February 7th. Territorial Bancorp’s dividend payout ratio is currently 50.63%.
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About Territorial Bancorp
Territorial Bancorp Inc is the holding company for Territorial Savings Bank (the Bank). The Bank provides financial services to individuals, families and businesses through its banking offices located throughout the State of Hawaii. Its business consists primarily of accepting deposits from the general public and investing those deposits together with funds generated from operations and borrowings in one- to four-family residential mortgage loans and investment securities.
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