Territorial Bancorp Inc (NASDAQ:TBNK) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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. “

Territorial Bancorp (NASDAQ:TBNK) opened at 30.69 on Wednesday. Territorial Bancorp has a one year low of $25.50 and a one year high of $34.00. The firm has a 50-day moving average price of $31.18 and a 200 day moving average price of $31.74. The firm has a market capitalization of $282.81 million, a PE ratio of 16.96 and a beta of 0.28.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 11th will be given a $0.20 dividend. The ex-dividend date is Tuesday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. Territorial Bancorp’s dividend payout ratio (DPR) is presently 45.71%.

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In related news, General Counsel Vernon Hirata sold 1,400 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $31.07, for a total value of $43,498.00. Following the sale, the general counsel now owns 57,975 shares in the company, valued at $1,801,283.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard I. Murakami sold 2,748 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $31.31, for a total value of $86,039.88. Following the completion of the sale, the director now owns 39,493 shares in the company, valued at approximately $1,236,525.83. The disclosure for this sale can be found here. Insiders sold 13,626 shares of company stock worth $425,725 in the last quarter. 9.80% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in Territorial Bancorp by 9.3% in the first quarter. Renaissance Technologies LLC now owns 549,600 shares of the financial services provider’s stock worth $17,131,000 after buying an additional 46,700 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Territorial Bancorp by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 412,317 shares of the financial services provider’s stock worth $12,852,000 after buying an additional 13,339 shares in the last quarter. Vanguard Group Inc. boosted its position in Territorial Bancorp by 3.1% in the first quarter. Vanguard Group Inc. now owns 308,975 shares of the financial services provider’s stock worth $9,630,000 after buying an additional 9,314 shares in the last quarter. Legion Partners Asset Management LLC purchased a new position in Territorial Bancorp during the fourth quarter worth approximately $9,578,000. Finally, State Street Corp boosted its position in Territorial Bancorp by 5.5% in the fourth quarter. State Street Corp now owns 208,020 shares of the financial services provider’s stock worth $6,827,000 after buying an additional 10,880 shares in the last quarter. Institutional investors own 43.63% of the company’s stock.

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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