Territorial Bancorp (NASDAQ:TBNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Territorial Bancorp, Inc. intends to operate as the bank holding company for Territorial Savings Bank, a federally chartered, FDIC-insured savings bank, which provides financial services to individuals, families, and businesses. Territorial Savings Bank accepts deposits; originates home equity loans and lines of credit, construction, commercial and other non-residential real estate loans, consumer loans, multi-family mortgage loans, and other loans; offers various deposit accounts, including passbook and statement savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and Super NOW accounts; engages in insurance agency activities; and provides various non-deposit investments, such as annuities and mutual funds through a third-party broker-dealer. Territorial Bancorp, Inc. is based in Honolulu, Hawaii with banking offices located throughout the State of Hawaii. “
A number of other equities analysts have also recently weighed in on TBNK. BidaskClub cut Territorial Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, April 20th. Sandler O’Neill reaffirmed a “hold” rating and issued a $32.00 price target on shares of Territorial Bancorp in a research note on Friday, July 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $32.00 price target on shares of Territorial Bancorp in a research note on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $33.00.
Shares of NASDAQ TBNK opened at $30.10 on Friday. The stock has a market cap of $294.43 million, a P/E ratio of 16.91 and a beta of 0.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. Territorial Bancorp has a 1-year low of $28.12 and a 1-year high of $33.00.
Territorial Bancorp (NASDAQ:TBNK) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. The company had revenue of $15.74 million for the quarter, compared to analysts’ expectations of $16.20 million. Territorial Bancorp had a return on equity of 7.74% and a net margin of 21.63%. equities analysts expect that Territorial Bancorp will post 2.07 earnings per share for the current year.
In other Territorial Bancorp news, Chairman Allan S. Kitagawa sold 4,323 shares of Territorial Bancorp stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $30.68, for a total value of $132,629.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Ralph Y. Nakatsuka sold 6,100 shares of Territorial Bancorp stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $30.78, for a total value of $187,758.00. The disclosure for this sale can be found here. Insiders sold a total of 14,817 shares of company stock worth $455,152 over the last ninety days. Insiders own 11.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new position in Territorial Bancorp in the 4th quarter worth approximately $132,000. Millennium Management LLC purchased a new position in Territorial Bancorp in the 1st quarter worth approximately $326,000. Mackay Shields LLC purchased a new position in Territorial Bancorp in the 1st quarter worth approximately $377,000. First Trust Advisors LP grew its position in shares of Territorial Bancorp by 19.1% in the 2nd quarter. First Trust Advisors LP now owns 13,760 shares of the financial services provider’s stock worth $427,000 after buying an additional 2,205 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Territorial Bancorp by 14.8% in the 2nd quarter. Sei Investments Co. now owns 14,183 shares of the financial services provider’s stock worth $440,000 after buying an additional 1,828 shares during the last quarter. 44.80% of the stock is currently owned by institutional investors and hedge funds.
About Territorial Bancorp
Territorial Bancorp Inc operates as the holding company for Territorial Savings Bank that provides various financial services to individuals, families, and businesses. 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 NOW accounts.
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