Territorial Bancorp (TBNK) Raised to “Hold” at BidaskClub

Territorial Bancorp (NASDAQ:TBNK) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 price objective on shares of Territorial Bancorp in a research note on Friday, July 27th. Sandler O’Neill restated a “hold” rating and issued a $32.00 price objective on shares of Territorial Bancorp in a research note on Friday, July 27th. Finally, Zacks Investment Research upgraded Territorial Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Territorial Bancorp presently has a consensus rating of “Hold” and an average target price of $33.00.

Shares of Territorial Bancorp opened at $30.23 on Friday, Marketbeat.com reports. Territorial Bancorp has a 52-week low of $28.12 and a 52-week high of $33.00. The stock has a market capitalization of $293.96 million, a P/E ratio of 16.98 and a beta of 0.25. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42.

Territorial Bancorp (NASDAQ:TBNK) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.53. Territorial Bancorp had a return on equity of 7.74% and a net margin of 21.63%. The business had revenue of $15.74 million for the quarter, compared to analysts’ expectations of $16.20 million. sell-side analysts forecast that Territorial Bancorp will post 2.07 EPS for the current year.

In other news, Chairman Allan S. Kitagawa sold 4,323 shares of the company’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $30.68, for a total transaction of $132,629.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David S. Murakami sold 4,394 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $30.67, for a total value of $134,763.98. Following the sale, the director now owns 27,494 shares in the company, valued at $843,240.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,817 shares of company stock worth $455,152. Company insiders own 13.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TBNK. Dalton Greiner Hartman Maher & Co. increased its position in shares of Territorial Bancorp by 63.2% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 107,926 shares of the financial services provider’s stock valued at $3,346,000 after buying an additional 41,792 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Territorial Bancorp by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 519,596 shares of the financial services provider’s stock valued at $16,108,000 after buying an additional 39,332 shares during the period. Stifel Financial Corp increased its position in shares of Territorial Bancorp by 22.2% during the first quarter. Stifel Financial Corp now owns 79,962 shares of the financial services provider’s stock valued at $2,372,000 after buying an additional 14,544 shares during the period. BlackRock Inc. increased its position in shares of Territorial Bancorp by 3.2% during the second quarter. BlackRock Inc. now owns 439,807 shares of the financial services provider’s stock valued at $13,634,000 after buying an additional 13,751 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Territorial Bancorp by 104.2% during the fourth quarter. Deutsche Bank AG now owns 25,549 shares of the financial services provider’s stock valued at $786,000 after buying an additional 13,040 shares during the period. Hedge funds and other institutional investors own 44.80% of the company’s stock.

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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