Territorial Bancorp (NASDAQ:TBNK) Raised to “Market Perform” at Raymond James

Raymond James upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from an underperform rating to a market perform rating in a report released on Monday morning, BenzingaRatingsTable reports.

TBNK has been the topic of several other reports. Zacks Investment Research downgraded shares of Territorial Bancorp from a hold rating to a sell rating in a research note on Friday, July 12th. BidaskClub downgraded shares of Territorial Bancorp from a hold rating to a sell rating in a research note on Tuesday, June 11th.

Shares of NASDAQ:TBNK traded up $0.54 on Monday, hitting $29.29. The company had a trading volume of 553 shares, compared to its average volume of 9,355. Territorial Bancorp has a 1-year low of $24.96 and a 1-year high of $31.44. The company has a market cap of $278.65 million, a PE ratio of 14.43 and a beta of 0.58. The stock’s 50 day moving average is $29.07. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.44.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly 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. Territorial Bancorp had a net margin of 25.94% and a return on equity of 8.88%. The business had revenue of $15.94 million for the quarter, compared to the consensus estimate of $15.70 million. On average, equities analysts predict that Territorial Bancorp will post 2.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 3.00%. Territorial Bancorp’s dividend payout ratio (DPR) is presently 43.35%.

In related news, Director David S. Murakami sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.80, for a total value of $86,400.00. Following the completion of the transaction, the director now owns 28,900 shares in the company, valued at approximately $832,320. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Allan S. Kitagawa sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $29.01, for a total transaction of $145,050.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,504 shares of company stock valued at $914,939. 10.80% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its position in Territorial Bancorp by 514.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,629 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 1,364 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Territorial Bancorp during the 4th quarter worth approximately $75,000. MetLife Investment Advisors LLC acquired a new stake in shares of Territorial Bancorp during the 4th quarter worth approximately $103,000. Aperio Group LLC acquired a new stake in shares of Territorial Bancorp during the 2nd quarter worth approximately $150,000. Finally, Bank of America Corp DE grew its position in shares of Territorial Bancorp by 61.7% during the 4th quarter. Bank of America Corp DE now owns 10,693 shares of the financial services provider’s stock worth $278,000 after buying an additional 4,080 shares during the period. 45.50% of the stock is owned by institutional investors and hedge funds.

Territorial Bancorp Company Profile

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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