Territorial Bancorp Inc. (TBNK) Downgraded by Zacks Investment Research to Hold
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, Keefe, Bruyette & Woods upped their price target on shares of Territorial Bancorp from $26.00 to $27.00 and gave the company a market perform rating in a report on Monday, August 1st.
Shares of Territorial Bancorp (NASDAQ:TBNK) traded down 0.73% during mid-day trading on Wednesday, reaching $28.60. 2,506 shares of the company were exchanged. The company’s 50-day moving average is $28.62 and its 200 day moving average is $26.94. The firm has a market capitalization of $258.86 million, a price-to-earnings ratio of 17.44 and a beta of 0.24. Territorial Bancorp has a 12 month low of $24.87 and a 12 month high of $29.44.
Territorial Bancorp (NASDAQ:TBNK) last issued its quarterly earnings results on Friday, July 29th. The financial services provider reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. Territorial Bancorp had a net margin of 21.86% and a return on equity of 6.86%. Analysts predict that Territorial Bancorp will post $1.73 EPS for the current year.
In other Territorial Bancorp news, Chairman Allan S. Kitagawa sold 13,088 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $28.49, for a total transaction of $372,877.12. Following the sale, the chairman now owns 109,212 shares in the company, valued at approximately $3,111,449.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Vernon Hirata sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $29.03, for a total value of $203,210.00. Following the sale, the general counsel now owns 55,538 shares in the company, valued at approximately $1,612,268.14. The disclosure for this sale can be found here. Company insiders own 9.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Territorial Bancorp by 3.3% in the first quarter. Renaissance Technologies LLC now owns 440,200 shares of the financial services provider’s stock valued at $11,472,000 after buying an additional 13,900 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Territorial Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 374,481 shares of the financial services provider’s stock worth $9,912,000 after buying an additional 17,566 shares in the last quarter. Maltese Capital Management LLC increased its position in shares of Territorial Bancorp by 2.6% in the second quarter. Maltese Capital Management LLC now owns 293,405 shares of the financial services provider’s stock worth $7,766,000 after buying an additional 7,454 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Territorial Bancorp by 2.6% in the second quarter. Vanguard Group Inc. now owns 291,931 shares of the financial services provider’s stock worth $7,727,000 after buying an additional 7,392 shares in the last quarter. Finally, State Street Corp increased its position in shares of Territorial Bancorp by 3.5% in the second quarter. State Street Corp now owns 191,229 shares of the financial services provider’s stock worth $5,057,000 after buying an additional 6,472 shares in the last quarter. Hedge funds and other institutional investors own 43.02% of the company’s stock.
About Territorial Bancorp
Territorial Bancorp Inc is a bank holding company. The Company owns Territorial Savings Bank (the Bank). The Bank provides financial services to individuals, families and businesses through its approximately 30 banking offices located throughout the State of Hawaii. Its business consists 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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