Territorial Bancorp (TBNK) Cut to Strong Sell at BidaskClub
BidaskClub lowered shares of Territorial Bancorp (NASDAQ:TBNK) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.
A number of other research analysts also recently commented on the stock. Keefe, Bruyette & Woods reissued a hold rating and set a $33.00 target price on shares of Territorial Bancorp in a research report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Territorial Bancorp from a buy rating to a hold rating in a research report on Wednesday, February 14th. Finally, Sandler O’Neill reaffirmed a hold rating and issued a $34.00 price objective on shares of Territorial Bancorp in a research report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $34.00.
Territorial Bancorp (NASDAQ TBNK) traded down $0.36 during midday trading on Thursday, reaching $30.18. 106 shares of the company’s stock were exchanged, compared to its average volume of 20,362. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.29. The stock has a market cap of $302.81, a P/E ratio of 17.06 and a beta of 0.26. Territorial Bancorp has a 1-year low of $28.12 and a 1-year high of $33.47.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Wednesday, February 7th. Territorial Bancorp’s payout ratio is currently 50.63%.
In other news, Director Howard Y. Ikeda sold 3,736 shares of Territorial Bancorp stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $30.59, for a total value of $114,284.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Vernon Hirata sold 6,700 shares of Territorial Bancorp stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $30.54, for a total transaction of $204,618.00. The disclosure for this sale can be found here. 13.10% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Ramsey Quantitative Systems purchased a new position in shares of Territorial Bancorp in the 4th quarter worth approximately $112,000. MetLife Investment Advisors LLC purchased a new position in shares of Territorial Bancorp in the 4th quarter worth approximately $132,000. SG Americas Securities LLC purchased a new position in shares of Territorial Bancorp in the 3rd quarter worth approximately $190,000. Voya Investment Management LLC purchased a new position in shares of Territorial Bancorp in the 2nd quarter worth approximately $204,000. Finally, Alpine Woods Capital Investors LLC purchased a new position in shares of Territorial Bancorp in the 3rd quarter worth approximately $253,000. 45.84% of the stock is currently owned by hedge funds and other institutional investors.
About Territorial Bancorp
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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