Zacks Investment Research upgraded shares of Territorial Bancorp Inc. (NASDAQ:TBNK) from a sell rating to a hold rating in a research report report published on Tuesday.
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. ValuEngine downgraded Territorial Bancorp from a buy rating to a hold rating in a research note on Tuesday, June 27th. BidaskClub downgraded Territorial Bancorp from a hold rating to a sell rating in a research note on Thursday, July 13th. Raymond James Financial, Inc. restated an underperform rating on shares of Territorial Bancorp in a research note on Thursday, August 10th. Finally, UBS AG downgraded Territorial Bancorp to an underperform rating in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock has an average rating of Sell and an average price target of $36.00.
Shares of Territorial Bancorp (NASDAQ TBNK) traded up 0.151% during midday trading on Tuesday, reaching $29.885. 14,019 shares of the company were exchanged. The company has a 50 day moving average price of $29.68 and a 200-day moving average price of $30.74. Territorial Bancorp has a 12-month low of $27.73 and a 12-month high of $34.00. The stock has a market capitalization of $276.94 million, a P/E ratio of 16.331 and a beta of 0.28.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $0.80 annualized dividend and a yield of 2.68%. Territorial Bancorp’s payout ratio is 43.96%.
In other Territorial Bancorp news, General Counsel Vernon Hirata sold 3,866 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $30.07, for a total value of $116,250.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Allan S. Kitagawa sold 4,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $30.00, for a total value of $144,390.00. The disclosure for this sale can be found here. Corporate insiders own 9.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Martingale Asset Management L P boosted its stake in Territorial Bancorp by 0.3% in the 1st quarter. Martingale Asset Management L P now owns 31,109 shares of the financial services provider’s stock worth $970,000 after purchasing an additional 97 shares during the period. Rhumbline Advisers raised its holdings in shares of Territorial Bancorp by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 10,199 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 165 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Territorial Bancorp by 4.6% during the 1st quarter. Sei Investments Co. now owns 4,822 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 213 shares in the last quarter. Strs Ohio raised its holdings in shares of Territorial Bancorp by 6.5% during the 2nd quarter. Strs Ohio now owns 8,200 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 500 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Territorial Bancorp by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 65,567 shares of the financial services provider’s stock worth $2,043,000 after acquiring an additional 713 shares in the last quarter. Institutional investors and hedge funds own 45.97% of the company’s stock.
Territorial Bancorp Company Profile
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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