Territorial Bancorp (TBNK) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Territorial Bancorp (NASDAQ:TBNK) from a hold rating to a sell rating in a research report report published on Saturday morning.

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. “

Several other equities research analysts have also commented on TBNK. BidaskClub lowered Territorial Bancorp from a sell rating to a strong sell rating in a research note on Monday, September 24th. ValuEngine upgraded Territorial Bancorp from a sell rating to a hold rating in a research note on Tuesday, December 11th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Territorial Bancorp presently has a consensus rating of Hold and an average price target of $32.00.

Territorial Bancorp stock traded up $0.02 during trading on Friday, hitting $26.97. The company’s stock had a trading volume of 30,923 shares, compared to its average volume of 15,017. The firm has a market capitalization of $260.35 million, a P/E ratio of 13.55 and a beta of 0.38. Territorial Bancorp has a 1-year low of $24.96 and a 1-year high of $31.95. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39.

Territorial Bancorp (NASDAQ:TBNK) last announced its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The company had revenue of $15.51 million during the quarter, compared to analyst estimates of $16.00 million. Territorial Bancorp had a return on equity of 8.01% and a net margin of 22.17%. As a group, equities analysts predict that Territorial Bancorp will post 2.03 EPS for the current year.

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Territorial Bancorp by 8.6% in the second quarter. Renaissance Technologies LLC now owns 652,200 shares of the financial services provider’s stock valued at $20,218,000 after purchasing an additional 51,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Territorial Bancorp by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 519,596 shares of the financial services provider’s stock valued at $16,108,000 after purchasing an additional 39,332 shares during the last quarter. BlackRock Inc. boosted its holdings in Territorial Bancorp by 3.2% in the second quarter. BlackRock Inc. now owns 439,807 shares of the financial services provider’s stock valued at $13,634,000 after purchasing an additional 13,751 shares during the last quarter. Millennium Management LLC boosted its holdings in Territorial Bancorp by 67.2% in the second quarter. Millennium Management LLC now owns 18,353 shares of the financial services provider’s stock valued at $569,000 after purchasing an additional 7,375 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. boosted its holdings in Territorial Bancorp by 5.6% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 113,916 shares of the financial services provider’s stock valued at $3,366,000 after purchasing an additional 5,990 shares during the last quarter. Institutional investors own 43.37% of the company’s stock.

Territorial Bancorp Company Profile

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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