BidaskClub upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a sell rating to a hold rating in a research report report published on Friday morning, BidAskClub reports.
Other research analysts have also recently issued reports about the stock. Raymond James upgraded shares of Territorial Bancorp from an underperform rating to a market perform rating in a research note on Monday, July 29th. Zacks Investment Research upgraded shares of Territorial Bancorp from a sell rating to a buy rating and set a $32.00 target price on the stock in a research note on Thursday.
TBNK traded down $0.44 during midday trading on Friday, reaching $28.32. The company had a trading volume of 7,901 shares, compared to its average volume of 11,866. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $277.30 million, a PE ratio of 13.95 and a beta of 0.57. Territorial Bancorp has a 12-month low of $24.96 and a 12-month high of $31.44. The business’s 50-day moving average price is $29.10.
Territorial Bancorp (NASDAQ:TBNK) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The firm had revenue of $15.94 million for the quarter, compared to analysts’ expectations of $15.70 million. Territorial Bancorp had a net margin of 25.94% and a return on equity of 8.88%. Analysts anticipate that Territorial Bancorp will post 2.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, August 7th. Territorial Bancorp’s payout ratio is 43.35%.
In related news, Chairman Allan S. Kitagawa sold 5,000 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David S. Murakami sold 3,000 shares of the company’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 transaction of $86,400.00. Following the sale, the director now owns 28,900 shares in the company, valued at $832,320. The disclosure for this sale can be found here. Insiders have sold a total of 31,504 shares of company stock worth $914,939 over the last 90 days. 10.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its stake in shares of 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 buying an additional 1,364 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Territorial Bancorp during the 4th quarter valued at approximately $75,000. MetLife Investment Advisors LLC purchased a new stake in shares of Territorial Bancorp during the 4th quarter valued at approximately $103,000. Aperio Group LLC purchased a new stake in shares of Territorial Bancorp during the 2nd quarter valued at approximately $150,000. Finally, Bank of America Corp DE increased its holdings in 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 acquiring an additional 4,080 shares during the period. Institutional investors own 45.49% of the company’s stock.
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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