Zacks Investment Research Downgrades Territorial Bancorp (TBNK) to Hold

Zacks Investment Research downgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a buy rating to a hold rating in a research report released on Wednesday.

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. “

A number of other research firms have also recently commented on TBNK. Sandler O’Neill restated a hold rating and set a $34.00 target price on shares of Territorial Bancorp in a research note on Friday, January 26th. Keefe, Bruyette & Woods restated a hold rating and set a $33.00 target price on shares of Territorial Bancorp in a research note on Friday, January 26th. Finally, BidaskClub cut shares of Territorial Bancorp from a hold rating to a sell rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Territorial Bancorp presently has an average rating of Hold and a consensus target price of $34.00.

Territorial Bancorp (NASDAQ TBNK) opened at $30.49 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.29. The stock has a market cap of $300.82, a P/E ratio of 16.95 and a beta of 0.26. Territorial Bancorp has a 1-year low of $28.12 and a 1-year high of $33.97.

Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $15.76 million during the quarter, compared to analysts’ expectations of $15.90 million. Territorial Bancorp had a return on equity of 7.24% and a net margin of 20.73%. analysts expect that Territorial Bancorp will post 2.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Wednesday, February 7th. Territorial Bancorp’s payout ratio is 50.63%.

In other Territorial Bancorp news, General Counsel Vernon Hirata sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $30.54, for a total transaction of $204,618.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ramsey Quantitative Systems bought a new stake in shares of Territorial Bancorp during the fourth quarter valued at approximately $112,000. SG Americas Securities LLC bought a new stake in shares of Territorial Bancorp during the third quarter valued at approximately $190,000. Voya Investment Management LLC bought a new stake in shares of Territorial Bancorp during the second quarter valued at approximately $204,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Territorial Bancorp during the third quarter valued at approximately $253,000. Finally, Stone Ridge Asset Management LLC bought a new stake in shares of Territorial Bancorp during the fourth quarter valued at approximately $281,000. Institutional investors own 46.94% of the company’s stock.

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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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