Russell Investments Group Ltd. raised its stake in Territorial Bancorp Inc. (NASDAQ:TBNK) by 82.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,727 shares of the financial services provider’s stock after buying an additional 7,534 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of Territorial Bancorp worth $528,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of TBNK. Foundry Partners LLC increased its stake in shares of Territorial Bancorp by 7.9% during the 3rd quarter. Foundry Partners LLC now owns 158,945 shares of the financial services provider’s stock worth $5,018,000 after purchasing an additional 11,600 shares in the last quarter. Cubic Asset Management LLC increased its stake in shares of Territorial Bancorp by 16.2% during the 3rd quarter. Cubic Asset Management LLC now owns 49,395 shares of the financial services provider’s stock worth $1,559,000 after purchasing an additional 6,882 shares in the last quarter. State Street Corp increased its stake in shares of Territorial Bancorp by 5.0% during the 2nd quarter. State Street Corp now owns 230,372 shares of the financial services provider’s stock worth $7,184,000 after purchasing an additional 11,029 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Territorial Bancorp by 50.5% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 12,517 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new position in shares of Territorial Bancorp during the 2nd quarter worth approximately $204,000. 47.15% of the stock is owned by institutional investors.
Shares of Territorial Bancorp Inc. (NASDAQ TBNK) opened at $31.26 on Thursday. Territorial Bancorp Inc. has a 1 year low of $28.12 and a 1 year high of $34.00. The stock has a market cap of $311.83, a P/E ratio of 17.27 and a beta of 0.29. 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 (NASDAQ:TBNK) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The firm had revenue of $15.57 million for the quarter, compared to analyst estimates of $15.90 million. Territorial Bancorp had a net margin of 24.07% and a return on equity of 7.34%. analysts forecast that Territorial Bancorp Inc. will post 1.8 EPS for the current year.
The business also recently declared a special dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were issued a $0.30 dividend. This represents a dividend yield of 2.54%. The ex-dividend date of this dividend was Tuesday, December 5th. This is a positive change from Territorial Bancorp’s previous special dividend of $0.10. Territorial Bancorp’s dividend payout ratio (DPR) is 44.20%.
Separately, Zacks Investment Research raised shares of Territorial Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Territorial Bancorp presently has a consensus rating of “Sell”.
In other Territorial Bancorp news, General Counsel Vernon Hirata sold 9,000 shares of Territorial Bancorp stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $30.17, for a total value of $271,530.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 13.10% of the stock is owned by company insiders.
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Territorial Bancorp Company Profile
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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