The Manufacturers Life Insurance Company decreased its holdings in shares of Territorial Bancorp Inc. (NASDAQ:TBNK) by 10.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,404 shares of the financial services provider’s stock after selling 768 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Territorial Bancorp worth $200,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of TBNK. Schwab Charles Investment Management Inc. grew its stake in shares of Territorial Bancorp by 131.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 28,192 shares of the financial services provider’s stock worth $880,000 after acquiring an additional 15,992 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Territorial Bancorp during the second quarter worth about $489,000. John W. Rosenthal Capital Management Inc. purchased a new stake in shares of Territorial Bancorp during the second quarter worth about $487,000. Dimensional Fund Advisors LP grew its stake in shares of Territorial Bancorp by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 412,317 shares of the financial services provider’s stock worth $12,852,000 after acquiring an additional 13,339 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Territorial Bancorp during the first quarter worth about $372,000. Institutional investors and hedge funds own 47.15% of the company’s stock.
Shares of Territorial Bancorp Inc. (NASDAQ TBNK) opened at $30.58 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.29. Territorial Bancorp Inc. has a twelve month low of $28.12 and a twelve month high of $34.00. The company has a market capitalization of $300.96, a PE ratio of 16.83 and a beta of 0.28.
The company also recently announced a special dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.30 per share. This is an increase from Territorial Bancorp’s previous special dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a dividend yield of 2.54%. Territorial Bancorp’s payout ratio is 44.20%.
In related news, Director Kirk W. Caldwell sold 2,125 shares of Territorial Bancorp stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $32.54, for a total transaction of $69,147.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Vernon Hirata sold 6,700 shares of Territorial Bancorp stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $30.54, for a total value of $204,618.00. The disclosure for this sale can be found here. Insiders have sold 24,815 shares of company stock valued at $756,309 in the last ninety days. Corporate insiders own 13.10% of the company’s stock.
A number of equities research analysts recently commented on the company. BidaskClub raised Territorial Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Zacks Investment Research raised Territorial Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Territorial Bancorp currently has a consensus rating of “Sell”.
WARNING: “Territorial Bancorp Inc. (TBNK) Shares Sold by The Manufacturers Life Insurance Company” was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.com-unik.info/2017/12/12/territorial-bancorp-inc-tbnk-shares-sold-by-the-manufacturers-life-insurance-company.html.
About Territorial Bancorp
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.
Receive News & Ratings for Territorial Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Territorial Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.