Zacks Investment Research upgraded shares of Territorial Bancorp Inc. (NASDAQ:TBNK) from a sell rating to a hold rating in a research note issued to investors on Tuesday, September 12th.
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 equities analysts also recently weighed in on TBNK. ValuEngine downgraded shares of Territorial Bancorp from a buy rating to a hold rating in a research note on Tuesday, June 27th. BidaskClub downgraded shares of Territorial Bancorp from a hold rating to a sell rating in a research note on Thursday, July 13th. UBS AG downgraded shares of Territorial Bancorp to an underperform rating in a research note on Thursday, August 10th. Finally, Raymond James Financial, Inc. reaffirmed an underperform rating on shares of Territorial Bancorp in a research note on Thursday, August 10th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Territorial Bancorp presently has a consensus rating of Sell and an average price target of $36.00.
Shares of Territorial Bancorp (TBNK) traded up 0.10% during mid-day trading on Tuesday, reaching $29.74. The company had a trading volume of 1,071 shares. The firm has a 50-day moving average of $29.61 and a 200-day moving average of $30.68. Territorial Bancorp has a 12-month low of $27.73 and a 12-month high of $34.00. The company has a market capitalization of $275.60 million, a P/E ratio of 16.25 and a beta of 0.28.
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The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Tuesday, August 8th. Territorial Bancorp’s dividend payout ratio (DPR) is currently 43.96%.
In related news, Chairman Allan S. Kitagawa sold 4,813 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.00, for a total value of $144,390.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Vernon Hirata sold 3,866 shares of the firm’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 transaction of $116,250.62. The disclosure for this sale can be found here. Insiders sold 8,823 shares of company stock worth $264,962 in the last 90 days. 9.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Territorial Bancorp by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 308,975 shares of the financial services provider’s stock worth $9,630,000 after acquiring an additional 9,314 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Territorial Bancorp by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 62,782 shares of the financial services provider’s stock worth $1,957,000 after acquiring an additional 727 shares during the last quarter. Martingale Asset Management L P boosted its stake in shares of Territorial Bancorp by 0.3% during the 1st quarter. Martingale Asset Management L P now owns 31,109 shares of the financial services provider’s stock worth $970,000 after acquiring an additional 97 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Territorial Bancorp by 9.3% during the 1st quarter. Renaissance Technologies LLC now owns 549,600 shares of the financial services provider’s stock worth $17,131,000 after acquiring an additional 46,700 shares during the last quarter. Finally, Spark Investment Management LLC boosted its stake in shares of Territorial Bancorp by 28.4% during the 1st quarter. Spark Investment Management LLC now owns 12,200 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 2,700 shares during 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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