Territorial Bancorp (NASDAQ:TBNK) Downgraded by BidaskClub

BidaskClub cut shares of Territorial Bancorp (NASDAQ:TBNK) from a hold rating to a sell rating in a report published on Thursday, January 11th.

Separately, Zacks Investment Research raised shares of Territorial Bancorp from a sell rating to a hold rating in a report on Friday, January 5th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $34.00.

Territorial Bancorp (NASDAQ TBNK) traded down $0.11 during mid-day trading on Thursday, reaching $30.51. 10,507 shares of the company traded hands, compared to its average volume of 12,492. The firm has a market capitalization of $303.60, a P/E ratio of 19.31 and a beta of 0.26. Territorial Bancorp has a 1-year low of $28.12 and a 1-year high of $33.97. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.29.

Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). Territorial Bancorp had a return on equity of 7.24% and a net margin of 20.73%. The company had revenue of $15.76 million during the quarter, compared to analyst estimates of $15.90 million. sell-side analysts expect that Territorial Bancorp will post 2.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. Territorial Bancorp’s dividend payout ratio is 50.63%.

In other news, General Counsel Vernon Hirata sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $30.17, for a total value of $271,530.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 13.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of TBNK. Legion Partners Asset Management LLC increased its holdings in Territorial Bancorp by 46.1% in the third quarter. Legion Partners Asset Management LLC now owns 426,047 shares of the financial services provider’s stock worth $13,450,000 after buying an additional 134,400 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in Territorial Bancorp during the fourth quarter worth approximately $1,172,000. Dimensional Fund Advisors LP boosted its position in Territorial Bancorp by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 447,359 shares of the financial services provider’s stock worth $14,123,000 after purchasing an additional 23,254 shares during the period. Schwab Charles Investment Management Inc. boosted its position in 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 purchasing an additional 15,992 shares during the period. Finally, Royce & Associates LP boosted its position in Territorial Bancorp by 16.9% during the third quarter. Royce & Associates LP now owns 81,800 shares of the financial services provider’s stock worth $2,582,000 after purchasing an additional 11,800 shares during the period. Institutional investors own 47.50% of the company’s stock.

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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.

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