Clover Partners L.P. reduced its holdings in shares of Territorial Bancorp Inc (NASDAQ:TBNK) by 62.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,224 shares of the financial services provider’s stock after selling 181,173 shares during the quarter. Territorial Bancorp accounts for 3.2% of Clover Partners L.P.’s portfolio, making the stock its 14th biggest holding. Clover Partners L.P. owned about 1.08% of Territorial Bancorp worth $3,310,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Territorial Bancorp by 1.8% during the fourth quarter. Renaissance Technologies LLC now owns 574,800 shares of the financial services provider’s stock valued at $17,744,000 after purchasing an additional 10,200 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Territorial Bancorp by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 447,359 shares of the financial services provider’s stock valued at $14,123,000 after purchasing an additional 23,254 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Territorial Bancorp by 0.8% during the fourth quarter. BlackRock Inc. now owns 430,503 shares of the financial services provider’s stock valued at $13,291,000 after purchasing an additional 3,239 shares in the last quarter. Legion Partners Asset Management LLC lifted its holdings in shares of Territorial Bancorp by 46.1% during the third quarter. Legion Partners Asset Management LLC now owns 426,047 shares of the financial services provider’s stock valued at $13,450,000 after purchasing an additional 134,400 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Territorial Bancorp by 2.1% during the second quarter. Vanguard Group Inc. now owns 315,570 shares of the financial services provider’s stock valued at $9,842,000 after purchasing an additional 6,595 shares in the last quarter. 45.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on TBNK. BidaskClub raised Territorial Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, March 8th. ValuEngine raised Territorial Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 price target on shares of Territorial Bancorp in a report on Tuesday, February 27th. Zacks Investment Research cut Territorial Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $34.00 price objective on shares of Territorial Bancorp in a research report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.00.
Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $15.76 million for the quarter, compared to analysts’ expectations of $15.90 million. Territorial Bancorp had a net margin of 20.73% and a return on equity of 7.24%. equities analysts forecast that Territorial Bancorp Inc will post 2.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, February 7th. Territorial Bancorp’s dividend payout ratio (DPR) is presently 50.63%.
In related news, Director Howard Y. Ikeda sold 3,736 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $30.59, for a total transaction of $114,284.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.10% of the stock is currently owned by corporate insiders.
Territorial Bancorp 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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