Territorial Bancorp Inc (NASDAQ:TBNK) Sees Significant Increase in Short Interest

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Territorial Bancorp Inc (NASDAQ:TBNK) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totalling 50,300 shares, a growth of 68.8% from the February 27th total of 29,800 shares. Based on an average daily trading volume, of 24,400 shares, the short-interest ratio is presently 2.1 days. Approximately 0.6% of the company’s shares are sold short.

Shares of NASDAQ TBNK opened at $25.18 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $26.28 and a two-hundred day simple moving average of $29.04. The firm has a market capitalization of $243.60 million, a PE ratio of 10.71 and a beta of 0.73. Territorial Bancorp has a 12 month low of $20.25 and a 12 month high of $32.45.

Territorial Bancorp (NASDAQ:TBNK) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.07. The company had revenue of $15.51 million during the quarter. Territorial Bancorp had a net margin of 26.37% and a return on equity of 9.07%. On average, sell-side analysts predict that Territorial Bancorp will post 1.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.92 dividend on an annualized basis and a yield of 3.65%. Territorial Bancorp’s dividend payout ratio is currently 39.32%.

In other Territorial Bancorp news, Director Howard Y. Ikeda sold 4,702 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $29.99, for a total transaction of $141,012.98. Following the completion of the sale, the director now owns 31,330 shares of the company’s stock, valued at approximately $939,586.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Territorial Bancorp by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 85,729 shares of the financial services provider’s stock valued at $2,652,000 after acquiring an additional 955 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Territorial Bancorp by 42.4% in the fourth quarter. Alliancebernstein L.P. now owns 199,549 shares of the financial services provider’s stock worth $6,174,000 after buying an additional 59,400 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Territorial Bancorp by 13.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 17,592 shares of the financial services provider’s stock worth $544,000 after buying an additional 2,050 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Territorial Bancorp by 8.7% in the fourth quarter. Bank of New York Mellon Corp now owns 66,995 shares of the financial services provider’s stock worth $2,073,000 after buying an additional 5,388 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Territorial Bancorp by 25.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,655 shares of the financial services provider’s stock worth $453,000 after buying an additional 2,990 shares during the last quarter. Institutional investors and hedge funds own 49.10% of the company’s stock.

Several brokerages have weighed in on TBNK. BidaskClub cut shares of Territorial Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Zacks Investment Research lowered shares of Territorial Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th.

Territorial Bancorp Company Profile

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.

Further Reading: Initial Coin Offerings entail a high degree of risk

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