Territorial Bancorp (NASDAQ:TBNK) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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. “

Several other equities analysts have also recently commented on TBNK. BidaskClub upgraded Territorial Bancorp from a sell rating to a hold rating in a research note on Wednesday. Raymond James upgraded Territorial Bancorp from an underperform rating to a market perform rating in a research note on Monday, July 29th.

Shares of Territorial Bancorp stock traded down $0.09 on Wednesday, hitting $28.88. 9,006 shares of the company’s stock traded hands, compared to its average volume of 12,788. The stock has a market cap of $280.48 million, a P/E ratio of 14.24 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average is $28.28 and its 200 day moving average is $28.38. Territorial Bancorp has a 52-week low of $24.96 and a 52-week high of $31.44.

Territorial Bancorp (NASDAQ:TBNK) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The company had revenue of $15.94 million during the quarter, compared to analysts’ expectations of $15.70 million. Territorial Bancorp had a return on equity of 8.83% and a net margin of 25.94%. Equities research analysts forecast that Territorial Bancorp will post 2.21 EPS for the current year.

In related news, Chairman Allan S. Kitagawa sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $29.01, for a total transaction of $145,050.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Murakami sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $28.80, for a total value of $86,400.00. Following the transaction, the director now owns 28,900 shares in the company, valued at $832,320. The disclosure for this sale can be found here. Company insiders own 10.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TBNK. BlackRock Inc. lifted its stake in Territorial Bancorp by 8.2% during the second quarter. BlackRock Inc. now owns 474,948 shares of the financial services provider’s stock worth $14,676,000 after purchasing an additional 36,118 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Territorial Bancorp by 9.3% during the second quarter. Acadian Asset Management LLC now owns 202,048 shares of the financial services provider’s stock worth $6,244,000 after purchasing an additional 17,126 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Territorial Bancorp during the second quarter worth $378,000. Dalton Greiner Hartman Maher & Co. lifted its stake in Territorial Bancorp by 8.7% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 124,885 shares of the financial services provider’s stock worth $3,569,000 after purchasing an additional 10,011 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Territorial Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 513,238 shares of the financial services provider’s stock worth $15,859,000 after purchasing an additional 6,953 shares during the last quarter. Hedge funds and other institutional investors own 46.63% of the company’s stock.

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.

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