Territorial Bancorp Inc. (NASDAQ:TBNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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) traded down 1.87% during midday trading on Tuesday, reaching $30.51. 24,765 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $31.05 and a 200-day moving average of $31.49. The stock has a market capitalization of $299.91 million, a P/E ratio of 16.67 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 David S. Murakami sold 9,478 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $31.25, for a total value of $296,187.50. Following the transaction, the director now owns 47,387 shares of the company’s stock, valued at $1,480,843.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk W. Caldwell sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $32.11, for a total transaction of $72,247.50. Following the completion of the transaction, the director now directly owns 38,502 shares in the company, valued at approximately $1,236,299.22. The disclosure for this sale can be found here. Insiders sold 14,476 shares of company stock valued at $454,475 over the last quarter. Company insiders own 9.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of TBNK. Renaissance Technologies LLC increased its position in shares of Territorial Bancorp by 9.3% in the first quarter. Renaissance Technologies LLC now owns 549,600 shares of the financial services provider’s stock valued at $17,131,000 after buying an additional 46,700 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Territorial Bancorp by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 412,317 shares of the financial services provider’s stock valued at $12,852,000 after buying an additional 13,339 shares during the period. Vanguard Group Inc. increased its position in Territorial Bancorp by 3.1% in the first quarter. Vanguard Group Inc. now owns 308,975 shares of the financial services provider’s stock valued at $9,630,000 after buying an additional 9,314 shares during the period. State Street Corp increased its position in Territorial Bancorp by 5.5% in the fourth quarter. State Street Corp now owns 208,020 shares of the financial services provider’s stock valued at $6,827,000 after buying an additional 10,880 shares during the period. Finally, Royce & Associates LP bought a new position in Territorial Bancorp during the first quarter valued at approximately $2,182,000. 45.86% of the stock is currently owned by institutional investors and hedge funds.
About Territorial Bancorp
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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