Short Interest in Territorial Bancorp Inc. (NASDAQ:TBNK) Increases By 126.0%

Territorial Bancorp Inc. (NASDAQ:TBNK) has experienced a considerable rise in short interest during October. As of October 15th, the short interest reached 33,000 shares, reflecting a significant growth of 126.0% compared to the 14,600 shares reported on September 30th. Currently, 0.5% of the company’s stock is short sold. With an average daily trading volume of 27,500 shares, the days-to-cover ratio stands at approximately 1.2 days.

Institutional Trading of Territorial Bancorp

Recent adjustments have been made by hedge funds and other institutional investors regarding their positions in Territorial Bancorp. In the first quarter, Acadian Asset Management LLC increased its stake in the company by 3.7%. Following this adjustment, they now own 79,342 shares valued at $638,000 after adding 2,801 shares in the previous quarter. Furthermore, during the second quarter, International Assets Investment Management LLC acquired a new stake worth about $27,000, while Longfellow Investment Management Co. LLC and Skandinaviska Enskilda Banken AB publ bought new positions valued at approximately $37,000 and $501,000, respectively. Overall, institutional investors currently control 50.35% of the company’s stock.

Analyst Reviews

On a research note, multiple analysts have recently made comments regarding TBNK shares. StockNews.com initiated coverage on Territorial Bancorp with a report dated Saturday, October 19th, assigning a "hold" rating to the stock. Meanwhile, Keefe, Bruyette & Woods updated their price target on Territorial Bancorp shares, raising it from $9.66 to $11.27, while rating the stock as a “market perform” in a recent report dated Wednesday, August 14th.

Current Trading Status of Territorial Bancorp

As of last Friday, shares of TBNK traded down by 0.9%, reaching a price of $10.44. The trading session saw the exchange of 30,736 shares, which is higher than the average volume of 25,209 shares. The company boasts a market capitalization of $92.19 million, with a price-to-earnings ratio of -1,042.96 and a beta of 0.61. Additionally, the stock has 50-day and 200-day moving averages at $10.12 and $8.90, respectively. Territorial Bancorp has encountered a 12-month low of $6.85 and a 12-month high of $11.64. The company’s financial ratios include a current ratio and a quick ratio of 0.86 each, alongside a debt-to-equity ratio of 0.95.

Territorial Bancorp last released its quarterly earnings data on July 26th, wherein the financial services provider reported losses of ($0.09) earnings per share (EPS). This performance fell short of the analysts' consensus projections of ($0.03) by ($0.06). Furthermore, the company reported a negative net margin of 0.06% and a return on equity of -0.02%. Their revenue for the quarter amounted to $8.90 million, which was slightly below analysts' expectations of $8.96 million.

About Territorial Bancorp

(Get Free Report) Territorial Bancorp Inc. functions as the holding company for Territorial Savings Bank, which provides a wide array of financial services to individuals, families, and businesses throughout Hawaii. Their offerings include diverse deposit accounts such as passbook savings, statement savings, money market accounts, commercial and regular checking accounts, alongside certificates of deposit.

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