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 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 analysts have also commented on TBNK. BidaskClub lowered shares of Territorial Bancorp from a hold rating to a sell rating in a research report on Thursday, July 13th. ValuEngine lowered shares of Territorial Bancorp from a buy rating to a hold rating in a research report on Tuesday, June 27th.

Territorial Bancorp (NASDAQ TBNK) traded down 0.03% during trading on Thursday, hitting $30.03. 29,719 shares of the company’s stock were exchanged. Territorial Bancorp has a 52-week low of $27.43 and a 52-week high of $34.00. The company has a market cap of $277.93 million, a price-to-earnings ratio of 16.49 and a beta of 0.28. The firm has a 50 day moving average price of $30.96 and a 200 day moving average price of $31.43.

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The company 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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend 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 stock in a transaction on Friday, June 9th. The shares were sold at an average price of $32.11, for a total value of $72,247.50. Following the sale, the director now 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 SEC, which is available at this hyperlink. Corporate insiders own 9.80% of the company’s stock.

Several large investors have recently made changes to their positions in TBNK. Martingale Asset Management L P increased its stake in shares of 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 valued at $970,000 after buying an additional 97 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Territorial Bancorp by 1.6% in the second quarter. Rhumbline Advisers now owns 10,199 shares of the financial services provider’s stock valued at $318,000 after buying an additional 165 shares in the last quarter. Sei Investments Co. increased its stake in shares of Territorial Bancorp by 4.6% in the first quarter. Sei Investments Co. now owns 4,822 shares of the financial services provider’s stock valued at $150,000 after buying an additional 213 shares in the last quarter. Nine Chapters Capital Management LLC increased its stake in shares of 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 valued at $340,000 after buying an additional 400 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its stake in shares of 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 valued at $133,000 after buying an additional 408 shares in the last quarter. 46.10% of the stock is currently owned by institutional investors and hedge funds.

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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