Territorial Bancorp (TBNK) Lowered to “Strong Sell” at BidaskClub

BidaskClub cut shares of Territorial Bancorp (NASDAQ:TBNK) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.

TBNK has been the subject of a number of other research reports. Zacks Investment Research upgraded Territorial Bancorp from a sell rating to a hold rating in a report on Saturday, March 9th. ValuEngine upgraded Territorial Bancorp from a sell rating to a hold rating in a report on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of Hold and an average target price of $32.00.

Shares of TBNK traded down $0.03 during mid-day trading on Thursday, reaching $26.98. 18,034 shares of the company’s stock traded hands, compared to its average volume of 13,137. The stock has a market cap of $261.52 million, a price-to-earnings ratio of 13.29 and a beta of 0.43. Territorial Bancorp has a 12 month low of $24.96 and a 12 month high of $31.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 0.93.

Territorial Bancorp (NASDAQ:TBNK) last announced its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $15.70 million during the quarter, compared to analyst estimates of $15.70 million. Territorial Bancorp had a return on equity of 8.20% and a net margin of 25.13%. As a group, analysts predict that Territorial Bancorp will post 1.97 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 19th. Shareholders of record on Tuesday, February 5th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, February 4th. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. Territorial Bancorp’s dividend payout ratio is currently 43.35%.

In other news, Director Howard Y. Ikeda sold 3,666 shares of the stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $27.61, for a total transaction of $101,218.26. Following the completion of the sale, the director now owns 30,000 shares in the company, valued at approximately $828,300. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Allan S. Kitagawa sold 7,474 shares of the stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $27.33, for a total value of $204,264.42. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp increased its position in shares of Territorial Bancorp by 5.6% in the 2nd quarter. Northern Trust Corp now owns 89,834 shares of the financial services provider’s stock valued at $2,785,000 after acquiring an additional 4,781 shares during the period. Alliancebernstein L.P. grew its position in Territorial Bancorp by 10.3% during the 3rd quarter. Alliancebernstein L.P. now owns 61,075 shares of the financial services provider’s stock worth $1,805,000 after purchasing an additional 5,720 shares during the period. BlackRock Inc. grew its position in Territorial Bancorp by 1.0% during the 3rd quarter. BlackRock Inc. now owns 444,208 shares of the financial services provider’s stock worth $13,127,000 after purchasing an additional 4,401 shares during the period. Dimensional Fund Advisors LP grew its position in Territorial Bancorp by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 535,939 shares of the financial services provider’s stock worth $15,837,000 after purchasing an additional 16,343 shares during the period. Finally, Maltese Capital Management LLC acquired a new stake in Territorial Bancorp during the 3rd quarter worth about $149,000. Hedge funds and other institutional investors own 45.23% of the company’s stock.

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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