Territorial Bancorp Inc. (NASDAQ:TBNK) Stock Rating Upgraded by Zacks Investment Research

Territorial Bancorp Inc. (NASDAQ:TBNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, July 4th.

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. “

Separately, ValuEngine lowered shares of Territorial Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th.

Shares of Territorial Bancorp (NASDAQ TBNK) opened at 30.55 on Tuesday. The stock has a 50 day moving average price of $31.06 and a 200-day moving average price of $31.52. The stock has a market cap of $281.98 million, a P/E ratio of 16.88 and a beta of 0.29. Territorial Bancorp has a 12 month low of $26.73 and a 12 month high of $34.00.

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In related news, Director Kirk W. Caldwell sold 2,250 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $32.11, for a total value of $72,247.50. Following the transaction, the director now owns 38,502 shares in the company, valued at approximately $1,236,299.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David S. Murakami sold 9,478 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $31.25, for a total transaction of $296,187.50. Following the completion of the sale, the director now directly owns 47,387 shares of the company’s stock, valued at approximately $1,480,843.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,476 shares of company stock worth $454,475. 9.80% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P increased its stake in Territorial Bancorp by 0.3% in the first quarter. Martingale Asset Management L P now owns 31,109 shares of the financial services provider’s stock worth $970,000 after buying an additional 97 shares in the last quarter. Sei Investments Co. increased its stake in Territorial Bancorp by 4.6% in the first quarter. Sei Investments Co. now owns 4,822 shares of the financial services provider’s stock worth $150,000 after buying an additional 213 shares in the last quarter. Nine Chapters Capital Management LLC increased its stake in shares of Territorial Bancorp by 3.8% in the first quarter. Nine Chapters Capital Management LLC now owns 10,900 shares of the financial services provider’s stock worth $340,000 after buying an additional 400 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Territorial Bancorp by 10.6% in the first quarter. Acrospire Investment Management LLC now owns 4,255 shares of the financial services provider’s stock worth $133,000 after buying an additional 408 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Territorial Bancorp by 2.7% in the fourth quarter. Two Sigma Investments LP now owns 16,046 shares of the financial services provider’s stock worth $527,000 after buying an additional 418 shares during the period. 45.86% of the stock is owned by hedge funds and other institutional investors.

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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