StockNews.com began coverage on shares of Territorial Bancorp (NASDAQ:TBNK – Free Report) in a research report released on Monday morning. The firm issued a hold rating on the financial services provider’s stock.
Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods dropped 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 report on Tuesday, May 14th. Piper Sandler raised Territorial Bancorp from an underweight rating to a neutral rating and raised their price objective for the company from $8.00 to $8.50 in a research report on Tuesday, May 7th.
Read Our Latest Research Report on TBNK
Territorial Bancorp Price Performance
Territorial Bancorp Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.04 annualized dividend and a yield of 0.49%. Territorial Bancorp’s dividend payout ratio is currently 80.00%.
Institutional Investors Weigh In On Territorial Bancorp
A number of institutional investors have recently made changes to their positions in TBNK. Brandywine Global Investment Management LLC boosted its holdings in shares of Territorial Bancorp by 1.9% during the third quarter. Brandywine Global Investment Management LLC now owns 86,909 shares of the financial services provider’s stock worth $790,000 after acquiring an additional 1,600 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Territorial Bancorp by 1,015.0% during the fourth quarter. International Assets Investment Management LLC now owns 36,795 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 33,495 shares during the period. White Pine Capital LLC boosted its holdings in shares of Territorial Bancorp by 61.1% during the fourth quarter. White Pine Capital LLC now owns 50,723 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 19,245 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Territorial Bancorp by 3.7% during the first quarter. Acadian Asset Management LLC now owns 79,342 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 2,801 shares during the period. Institutional investors own 50.35% of the company’s stock.
Territorial Bancorp Company Profile
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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