Territorial Bancorp Inc. (NASDAQ:TBNK – Get Rating) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 41,500 shares, a decline of 16.8% from the March 31st total of 49,900 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 20,600 shares, the short-interest ratio is presently 2.0 days.
Analysts Set New Price Targets
TBNK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Territorial Bancorp from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. StockNews.com lowered shares of Territorial Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th.
Territorial Bancorp Price Performance
Shares of TBNK stock traded down $0.15 during trading hours on Friday, reaching $16.75. 49,640 shares of the company were exchanged, compared to its average volume of 20,202. Territorial Bancorp has a fifty-two week low of $16.59 and a fifty-two week high of $25.50. The stock’s fifty day moving average is $20.17 and its two-hundred day moving average is $21.69. The company has a market cap of $151.59 million, a price-to-earnings ratio of 9.25 and a beta of 0.53. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77.
Territorial Bancorp (NASDAQ:TBNK – Get Rating) last announced its earnings results on Thursday, January 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Territorial Bancorp had a return on equity of 6.29% and a net margin of 24.14%. The company had revenue of $14.44 million for the quarter, compared to analyst estimates of $14.86 million. Sell-side analysts forecast that Territorial Bancorp will post 1.2 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Territorial Bancorp
A number of large investors have recently modified their holdings of TBNK. International Assets Investment Management LLC bought a new stake in shares of Territorial Bancorp during the first quarter worth approximately $64,000. Man Group plc bought a new stake in Territorial Bancorp in the fourth quarter valued at approximately $220,000. Citigroup Inc. bought a new stake in Territorial Bancorp in the fourth quarter valued at approximately $221,000. Morgan Stanley increased its stake in Territorial Bancorp by 48.6% in the fourth quarter. Morgan Stanley now owns 20,723 shares of the financial services provider’s stock valued at $498,000 after purchasing an additional 6,780 shares in the last quarter. Finally, Teton Advisors Inc. increased its stake in Territorial Bancorp by 17.6% in the third quarter. Teton Advisors Inc. now owns 30,000 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 4,500 shares in the last quarter. 43.51% of the stock is currently owned by institutional investors and hedge funds.
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.