Territorial Bancorp (NASDAQ:TBNK) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a sell rating to a hold rating in a research note published on Saturday morning, BidAskClub reports.

A number of other analysts have also issued reports on the company. Raymond James upgraded Territorial Bancorp from an underperform rating to a market perform rating in a report on Monday, July 29th. Zacks Investment Research upgraded Territorial Bancorp from a hold rating to a buy rating and set a $31.00 target price for the company in a report on Tuesday, September 10th.

Shares of NASDAQ:TBNK opened at $28.31 on Friday. Territorial Bancorp has a one year low of $24.96 and a one year high of $31.44. The stock has a fifty day moving average of $27.91 and a 200-day moving average of $28.15. The company has a market capitalization of $273.81 million, a PE ratio of 13.95 and a beta of 0.58. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.98 and a current ratio of 0.98.

Territorial Bancorp (NASDAQ:TBNK) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. The company had revenue of $15.94 million during the quarter, compared to analyst estimates of $15.70 million. Territorial Bancorp had a return on equity of 8.83% and a net margin of 25.94%. As a group, research analysts forecast that Territorial Bancorp will post 2.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.11%. Territorial Bancorp’s payout ratio is currently 43.35%.

In other news, Director Kirk W. Caldwell sold 2,700 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $30.50, for a total value of $82,350.00. Following the completion of the sale, the director now owns 36,927 shares in the company, valued at $1,126,273.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Murakami sold 3,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $28.80, for a total value of $86,400.00. Following the completion of the sale, the director now owns 28,900 shares of the company’s stock, valued at approximately $832,320. The disclosure for this sale can be found here. Insiders sold 17,778 shares of company stock valued at $531,873 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Territorial Bancorp by 514.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,629 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 1,364 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Territorial Bancorp during the second quarter worth $150,000. Bank of Montreal Can raised its holdings in shares of Territorial Bancorp by 13.6% during the second quarter. Bank of Montreal Can now owns 6,996 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 838 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Territorial Bancorp by 61.7% during the fourth quarter. Bank of America Corp DE now owns 10,693 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 4,080 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Territorial Bancorp during the second quarter worth $378,000. Institutional investors own 46.49% of the company’s stock.

About Territorial Bancorp

Territorial Bancorp, Inc operates as the bank holding company for Territorial Savings Bank, which provides financial services to individuals, families, and businesses in 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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