StockNews.com Initiates Coverage on Territorial Bancorp (NASDAQ:TBNK)

StockNews.com assumed coverage on shares of Territorial Bancorp (NASDAQ:TBNK) in a report released on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

Territorial Bancorp Stock Down 2.8 %

Shares of TBNK opened at $8.19 on Thursday. The stock’s 50 day moving average is $8.68 and its two-hundred day moving average is $9.74. Territorial Bancorp has a 12 month low of $6.92 and a 12 month high of $11.44. The firm has a market cap of $72.33 million, a P/E ratio of -16.38 and a beta of 0.59. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). Territorial Bancorp had a negative net margin of 5.74% and a negative return on equity of 1.72%.

Territorial Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.49%. The ex-dividend date was Friday, February 14th. Territorial Bancorp’s payout ratio is -8.00%.

Institutional Trading of Territorial Bancorp

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Territorial Bancorp by 22.9% in the third quarter. Wellington Management Group LLP now owns 786,248 shares of the financial services provider’s stock worth $8,208,000 after acquiring an additional 146,541 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Territorial Bancorp during the 3rd quarter worth $3,726,000. Atria Investments Inc boosted its position in Territorial Bancorp by 12.7% during the third quarter. Atria Investments Inc now owns 12,204 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 1,380 shares during the last quarter. Four Tree Island Advisory LLC purchased a new stake in Territorial Bancorp during the 4th quarter valued at about $364,000. Finally, CKW Financial Group acquired a new stake in Territorial Bancorp in the 4th quarter valued at about $35,000. 50.35% of the stock is owned by institutional investors and hedge funds.

About Territorial Bancorp

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.