Territorial Bancorp (TBNK) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Territorial Bancorp from a hold rating to a sell rating in a research report on Saturday, March 24th. ValuEngine raised shares of Territorial Bancorp from a hold rating to a buy rating in a research report on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Territorial Bancorp presently has a consensus rating of Hold and a consensus price target of $34.00.

NASDAQ TBNK traded down $0.25 during trading on Thursday, reaching $31.00. 11,292 shares of the company’s stock traded hands, compared to its average volume of 19,344. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $304.86 million, a price-to-earnings ratio of 17.40 and a beta of 0.27. Territorial Bancorp has a 12-month low of $28.12 and a 12-month high of $33.00.

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

The company also recently disclosed a special dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Wednesday, July 11th will be given a $0.10 dividend. This represents a dividend yield of 2.56%. The ex-dividend date is Tuesday, July 10th. Territorial Bancorp’s payout ratio is currently 44.94%.

In related news, Vice Chairman Ralph Y. Nakatsuka sold 6,100 shares of Territorial Bancorp stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $30.78, for a total value of $187,758.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Allan S. Kitagawa sold 4,323 shares of Territorial Bancorp stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $30.68, for a total transaction of $132,629.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,817 shares of company stock worth $455,152. Insiders own 13.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TBNK. California Public Employees Retirement System boosted its stake in Territorial Bancorp by 61.5% in the 4th quarter. California Public Employees Retirement System now owns 11,406 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 4,345 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Territorial Bancorp by 32.3% in the 4th quarter. Wells Fargo & Company MN now owns 14,327 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 3,494 shares in the last quarter. BlackRock Inc. boosted its stake in Territorial Bancorp by 0.8% in the 4th quarter. BlackRock Inc. now owns 430,503 shares of the financial services provider’s stock worth $13,291,000 after purchasing an additional 3,239 shares in the last quarter. Royce & Associates LP boosted its stake in Territorial Bancorp by 14.1% in the 4th quarter. Royce & Associates LP now owns 93,300 shares of the financial services provider’s stock worth $2,880,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in Territorial Bancorp by 11.0% in the 4th quarter. Martingale Asset Management L P now owns 31,206 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 3,100 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

Territorial Bancorp Company Profile

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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