Short Interest in Territorial Bancorp Inc (NASDAQ:TBNK) Drops By 20.6%

Territorial Bancorp Inc (NASDAQ:TBNK) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 20,000 shares, a decrease of 20.6% from the April 30th total of 25,200 shares. Based on an average daily volume of 14,000 shares, the short-interest ratio is presently 1.4 days. Currently, 0.3% of the shares of the company are sold short.

Shares of Territorial Bancorp stock traded up $0.03 during trading hours on Monday, reaching $27.87. The company had a trading volume of 100 shares, compared to its average volume of 8,228. Territorial Bancorp has a one year low of $24.96 and a one year high of $31.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $267.51 million, a P/E ratio of 13.68 and a beta of 0.49.

Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. Territorial Bancorp had a return on equity of 8.86% and a net margin of 26.26%. The firm had revenue of $18.28 million during the quarter, compared to analyst estimates of $15.70 million. Sell-side analysts expect that Territorial Bancorp will post 2.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, May 8th. Territorial Bancorp’s payout ratio is currently 43.35%.

A number of equities analysts have recently commented on the company. BidaskClub raised Territorial Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Zacks Investment Research lowered Territorial Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, ValuEngine raised Territorial Bancorp from a “sell” rating to a “hold” rating in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $32.00.

In other news, Vice Chairman Ralph Y. Nakatsuka sold 5,025 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.63, for a total value of $143,865.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Vernon Hirata sold 2,488 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $27.73, for a total value of $68,992.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,726 shares of company stock valued at $383,065. 10.80% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Territorial Bancorp by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 556,078 shares of the financial services provider’s stock worth $14,447,000 after buying an additional 20,139 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Territorial Bancorp by 43.9% in the first quarter. Martingale Asset Management L P now owns 44,915 shares of the financial services provider’s stock worth $1,209,000 after buying an additional 13,709 shares in the last quarter. BlackRock Inc. raised its position in shares of Territorial Bancorp by 2.8% in the fourth quarter. BlackRock Inc. now owns 456,673 shares of the financial services provider’s stock worth $11,864,000 after buying an additional 12,465 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of Territorial Bancorp by 8.0% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 123,263 shares of the financial services provider’s stock worth $3,317,000 after buying an additional 9,133 shares in the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Territorial Bancorp in the fourth quarter worth $220,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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About Territorial Bancorp

Territorial Bancorp, Inc operates as the bank holding company for Territorial Savings Bank, which provides financial services to individuals, families, and businesses in 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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