Territorial Bancorp Inc. (NASDAQ:TBNK) Announces $0.23 Quarterly Dividend

Territorial Bancorp Inc. (NASDAQ:TBNKGet Rating) announced a quarterly dividend on Thursday, April 28th, Zacks reports. Investors of record on Thursday, May 12th will be paid a dividend of 0.23 per share by the financial services provider on Thursday, May 26th. This represents a $0.92 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, May 11th.

Territorial Bancorp has decreased its dividend payment by an average of 3.6% annually over the last three years. Territorial Bancorp has a dividend payout ratio of 51.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Territorial Bancorp to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 51.1%.

Shares of NASDAQ TBNK opened at $22.71 on Friday. Territorial Bancorp has a 12-month low of $22.52 and a 12-month high of $26.81. The company has a market cap of $211.66 million, a P/E ratio of 12.08 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $24.22 and a 200 day moving average price of $24.95.

Territorial Bancorp (NASDAQ:TBNKGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. Territorial Bancorp had a return on equity of 6.90% and a net margin of 26.10%. On average, sell-side analysts forecast that Territorial Bancorp will post 1.7 EPS for the current fiscal year.

In other news, COO Vernon Hirata sold 3,546 shares of the stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $23.45, for a total transaction of $83,153.70. Following the transaction, the chief operating officer now owns 80,597 shares of the company’s stock, valued at $1,889,999.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Territorial Bancorp by 11.4% during the fourth quarter. BlackRock Inc. now owns 70,654 shares of the financial services provider’s stock worth $1,784,000 after purchasing an additional 7,220 shares during the last quarter. Susquehanna International Group LLP lifted its holdings in Territorial Bancorp by 85.3% in the fourth quarter. Susquehanna International Group LLP now owns 24,108 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 11,099 shares during the last quarter. Morgan Stanley lifted its holdings in Territorial Bancorp by 10.3% in the second quarter. Morgan Stanley now owns 48,556 shares of the financial services provider’s stock worth $1,261,000 after acquiring an additional 4,543 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in Territorial Bancorp in the second quarter worth about $460,000. 54.04% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on TBNK. TheStreet downgraded Territorial Bancorp from a “b” rating to a “c+” rating in a research note on Monday, March 14th. StockNews.com began coverage on Territorial Bancorp in a research note on Tuesday, April 19th. They set a “hold” rating for the company.

About Territorial Bancorp (Get Rating)

Territorial Bancorp Inc operates as the holding company for Territorial Savings Bank that provides 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 accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and Super NOW accounts.

See Also

Dividend History for Territorial Bancorp (NASDAQ:TBNK)

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