Territorial Bancorp Inc. (TBNK) Given Consensus Recommendation of “Buy” by Brokerages
Territorial Bancorp Inc. (NASDAQ:TBNK) has been given a consensus broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokerages have set a 12-month consensus price target of $29.50 for the company and are anticipating that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also given Territorial Bancorp an industry rank of 112 out of 265 based on the ratings given to its competitors.
A number of research firms have recently commented on TBNK. Zacks Investment Research cut shares of Territorial Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Keefe, Bruyette & Woods raised their price objective 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.
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In other Territorial Bancorp news, Vice Chairman Ralph Y. Nakatsuka sold 4,050 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $28.82, for a total transaction of $116,721.00. Following the completion of the transaction, the insider now owns 110,248 shares in the company, valued at approximately $3,177,347.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Allan S. Kitagawa sold 13,088 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $28.49, for a total transaction of $372,877.12. Following the transaction, the chairman now owns 109,212 shares of the company’s stock, valued at approximately $3,111,449.88. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in Territorial Bancorp by 0.3% in the second quarter. First Trust Advisors LP now owns 13,697 shares of the financial services provider’s stock valued at $363,000 after buying an additional 39 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Territorial Bancorp by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,200 shares of the financial services provider’s stock valued at $448,000 after buying an additional 80 shares during the last quarter. Alliancebernstein L.P. raised its position in Territorial Bancorp by 0.5% in the second quarter. Alliancebernstein L.P. now owns 79,035 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 400 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Territorial Bancorp by 4.0% in the second quarter. PNC Financial Services Group Inc. now owns 11,822 shares of the financial services provider’s stock valued at $312,000 after buying an additional 455 shares during the last quarter. Finally, Strs Ohio raised its position in Territorial Bancorp by 8.1% in the second quarter. Strs Ohio now owns 8,000 shares of the financial services provider’s stock valued at $211,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 43.02% of the company’s stock.
Territorial Bancorp (NASDAQ:TBNK) remained flat at $28.89 on Tuesday. 3,367 shares of the company traded hands. The stock has a 50-day moving average of $28.69 and a 200-day moving average of $27.01. The company has a market capitalization of $261.48 million, a P/E ratio of 17.62 and a beta of 0.24. Territorial Bancorp has a 52 week low of $24.87 and a 52 week high of $29.44.
Territorial Bancorp (NASDAQ:TBNK) last posted its earnings results on Friday, July 29th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Territorial Bancorp had a net margin of 21.86% and a return on equity of 6.86%. Analysts anticipate that Territorial Bancorp will post $1.73 EPS for the current fiscal year.
Territorial Bancorp Company Profile
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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