Territorial Bancorp (TBNK) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a sell rating to a hold rating in a research report released on Friday.

According to Zacks, “Territorial Bancorp, Inc. intends to operate as the bank holding company for Territorial Savings Bank, a federally chartered, FDIC-insured savings bank, which provides financial services to individuals, families, and businesses. Territorial Savings Bank accepts deposits; originates home equity loans and lines of credit, construction, commercial and other non-residential real estate loans, consumer loans, multi-family mortgage loans, and other loans; offers various deposit accounts, including passbook and statement savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and Super NOW accounts; engages in insurance agency activities; and provides various non-deposit investments, such as annuities and mutual funds through a third-party broker-dealer. Territorial Bancorp, Inc. is based in Honolulu, Hawaii with banking offices located throughout the State of Hawaii. “

Other research analysts also recently issued reports about the company. BidaskClub downgraded Territorial Bancorp from a buy rating to a hold rating in a research note on Wednesday, July 11th. Keefe, Bruyette & Woods restated a hold rating and issued a $32.00 price target 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 target on shares of Territorial Bancorp in a research note on Friday, July 27th. Finally, ValuEngine downgraded Territorial Bancorp from a hold rating to a sell rating in a research note on Tuesday, August 28th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of Hold and an average price target of $33.00.

NASDAQ:TBNK opened at $27.35 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The stock has a market cap of $268.43 million, a P/E ratio of 15.37 and a beta of 0.35. Territorial Bancorp has a 52-week low of $24.96 and a 52-week high of $32.55.

Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.51 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.51. The firm had revenue of $15.51 million during the quarter, compared to the consensus estimate of $16.00 million. Territorial Bancorp had a return on equity of 8.03% and a net margin of 22.17%. On average, research analysts predict that Territorial Bancorp will post 2.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $0.88 dividend on an annualized basis and a yield of 3.22%. Territorial Bancorp’s dividend payout ratio is 49.44%.

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in shares of Territorial Bancorp by 8.6% during the 2nd quarter. Renaissance Technologies LLC now owns 652,200 shares of the financial services provider’s stock worth $20,218,000 after acquiring an additional 51,600 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Territorial Bancorp by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 519,596 shares of the financial services provider’s stock worth $16,108,000 after acquiring an additional 39,332 shares during the period. BlackRock Inc. boosted its stake in shares of Territorial Bancorp by 3.2% during the 2nd quarter. BlackRock Inc. now owns 439,807 shares of the financial services provider’s stock worth $13,634,000 after acquiring an additional 13,751 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Territorial Bancorp by 5.6% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 113,916 shares of the financial services provider’s stock worth $3,366,000 after acquiring an additional 5,990 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Territorial Bancorp by 5.6% during the 2nd quarter. Northern Trust Corp now owns 89,834 shares of the financial services provider’s stock worth $2,785,000 after acquiring an additional 4,781 shares during the period. Hedge funds and other institutional investors own 44.16% 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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