Territorial Bancorp Inc. (TBNK) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Territorial Bancorp Inc. (NASDAQ:TBNK) from a hold rating to a sell rating in a research note published on Thursday, August 3rd.

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. “

Other analysts have also issued reports about the stock. ValuEngine lowered shares of Territorial Bancorp from a buy rating to a hold rating in a research note on Tuesday, June 27th. BidaskClub lowered shares of Territorial Bancorp from a hold rating to a sell rating in a research note on Thursday, July 13th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Territorial Bancorp presently has an average rating of Sell and an average price target of $36.00.

Territorial Bancorp (NASDAQ:TBNK) opened at 28.77 on Thursday. The firm has a 50-day moving average of $30.45 and a 200 day moving average of $31.20. Territorial Bancorp has a one year low of $27.73 and a one year high of $34.00. The company has a market capitalization of $266.61 million, a price-to-earnings ratio of 15.72 and a beta of 0.28.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, August 8th. Territorial Bancorp’s dividend payout ratio is currently 43.96%.

In other news, Director Kirk W. Caldwell sold 2,250 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $32.11, for a total transaction of $72,247.50. Following the completion of the sale, the director now directly owns 38,502 shares of the company’s stock, valued at $1,236,299.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.80% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in TBNK. Martingale Asset Management L P raised 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 during the period. Rhumbline Advisers raised its stake in Territorial Bancorp by 1.6% in the second quarter. Rhumbline Advisers now owns 10,199 shares of the financial services provider’s stock worth $318,000 after buying an additional 165 shares during the period. Sei Investments Co. raised 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 during the period. Nine Chapters Capital Management LLC raised its stake in 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. Finally, Acrospire Investment Management LLC raised its stake in 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. 46.42% of the stock is owned by 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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