BidaskClub Downgrades Territorial Bancorp Inc. (TBNK) to Strong Sell
BidaskClub cut shares of Territorial Bancorp Inc. (NASDAQ:TBNK) from a sell rating to a strong sell rating in a research note released on Thursday morning.
Several other brokerages have also recently weighed in on TBNK. Zacks Investment Research cut shares of Territorial Bancorp from a buy rating to a sell rating in a research report on Wednesday, May 17th. ValuEngine cut shares of Territorial Bancorp from a buy rating to a hold rating in a research report on Tuesday, June 27th.
Territorial Bancorp (TBNK) traded down 0.03% on Thursday, hitting $30.03. 29,719 shares of the stock traded hands. The company’s 50 day moving average price is $30.96 and its 200-day moving average price is $31.43. Territorial Bancorp has a 52-week low of $27.43 and a 52-week high of $34.00. The stock has a market cap of $277.93 million, a price-to-earnings ratio of 16.49 and a beta of 0.28.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, August 8th. Territorial Bancorp’s dividend payout ratio (DPR) is presently 43.96%.
In other Territorial Bancorp 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 transaction of $72,247.50. Following the transaction, the director now directly owns 38,502 shares of the company’s stock, valued at $1,236,299.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Territorial Bancorp during the first quarter valued at $130,000. Acrospire Investment Management LLC increased its position in 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. Sei Investments Co. increased its position in 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. Strs Ohio increased its position in Territorial Bancorp by 6.5% in the second quarter. Strs Ohio now owns 8,200 shares of the financial services provider’s stock valued at $255,000 after buying an additional 500 shares in the last quarter. Finally, Oxford Asset Management acquired a new position in Territorial Bancorp during the first quarter valued at $272,000. 46.10% of the stock is currently owned by hedge funds and other institutional investors.
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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