Zacks Investment Research Upgrades Territorial Bancorp (TBNK) to Hold

Territorial Bancorp (NASDAQ:TBNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “

A number of other research firms also recently commented on TBNK. BidaskClub downgraded shares of Territorial Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price objective on shares of Territorial Bancorp in a report on Friday, July 27th. Sandler O’Neill reissued a “hold” rating and set a $32.00 price objective on shares of Territorial Bancorp in a report on Friday, July 27th. Finally, ValuEngine downgraded shares of Territorial Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

TBNK stock opened at $27.56 on Friday. The stock has a market cap of $268.43 million, a P/E ratio of 13.85 and a beta of 0.35. Territorial Bancorp has a 52 week low of $24.96 and a 52 week high of $32.55. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37.

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

Several hedge funds and other institutional investors have recently made changes to their positions in TBNK. Ramsey Quantitative Systems lifted its holdings in shares of Territorial Bancorp by 46.6% in the third quarter. Ramsey Quantitative Systems now owns 5,424 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 1,724 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Territorial Bancorp in the first quarter valued at about $326,000. First Trust Advisors LP lifted its holdings in shares of Territorial Bancorp by 19.1% in the second quarter. First Trust Advisors LP now owns 13,760 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 2,205 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Territorial Bancorp by 14.8% in the second quarter. Sei Investments Co. now owns 14,183 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Territorial Bancorp by 5.6% in the second quarter. Northern Trust Corp now owns 89,834 shares of the financial services provider’s stock valued at $2,785,000 after purchasing an additional 4,781 shares in the last quarter. 44.17% of the stock is currently owned by institutional investors.

About Territorial Bancorp

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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