Territorial Bancorp (TBNK) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a sell rating to a hold rating in a research note released on Thursday.

A number of other research firms have also commented on TBNK. ValuEngine raised Territorial Bancorp from a hold rating to a buy rating in a research report on Wednesday, March 7th. Zacks Investment Research raised Territorial Bancorp from a sell rating to a hold rating in a research report on Tuesday, June 5th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $33.00 target price on shares of Territorial Bancorp in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $34.00.

Territorial Bancorp opened at $31.60 on Thursday, according to Marketbeat.com. The firm has a market capitalization of $305.55 million, a P/E ratio of 17.75 and a beta of 0.27. Territorial Bancorp has a 12 month low of $28.12 and a 12 month high of $33.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.42.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $15.98 million during the quarter, compared to analyst estimates of $15.90 million. Territorial Bancorp had a return on equity of 7.45% and a net margin of 21.08%. equities analysts expect that Territorial Bancorp will post 2.1 EPS for the current year.

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

Institutional investors have recently made changes to their positions in the company. Ramsey Quantitative Systems bought a new position in shares of Territorial Bancorp during the 4th quarter worth $112,000. MetLife Investment Advisors LLC bought a new position in shares of Territorial Bancorp during the 4th quarter worth $132,000. Stone Ridge Asset Management LLC bought a new position in shares of Territorial Bancorp during the 4th quarter worth $281,000. Millennium Management LLC bought a new position in shares of Territorial Bancorp during the 1st quarter worth $326,000. Finally, California Public Employees Retirement System grew its stake in shares of Territorial Bancorp by 61.5% during the 4th quarter. California Public Employees Retirement System now owns 11,406 shares of the financial services provider’s stock worth $352,000 after acquiring an additional 4,345 shares during the period. 44.38% of the stock is owned by hedge funds and other institutional investors.

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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