Territorial Bancorp Inc. (NASDAQ:TBNK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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 research firms have also recently commented on TBNK. UBS AG cut shares of Territorial Bancorp to an “underperform” rating in a research report on Thursday, August 10th. BidaskClub cut shares of Territorial Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reissued an “underperform” rating on shares of Territorial Bancorp in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The stock has an average rating of “Sell”.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The business had revenue of $15.57 million during the quarter, compared to the consensus estimate of $15.90 million. Territorial Bancorp had a return on equity of 7.38% and a net margin of 24.07%.

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In other Territorial Bancorp news, Chairman Allan S. Kitagawa sold 4,813 shares of Territorial Bancorp stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.00, for a total transaction of $144,390.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk W. Caldwell sold 2,125 shares of Territorial Bancorp stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $32.54, for a total transaction of $69,147.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,928 shares of company stock worth $424,551. Insiders own 9.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of TBNK. SG Americas Securities LLC bought a new position in shares of Territorial Bancorp during the 1st quarter worth approximately $130,000. Voya Investment Management LLC bought a new position in shares of Territorial Bancorp during the 2nd quarter worth approximately $204,000. Strs Ohio lifted its position in shares of Territorial Bancorp by 6.5% during the 2nd quarter. Strs Ohio now owns 8,200 shares of the financial services provider’s stock worth $255,000 after buying an additional 500 shares in the last quarter. Sei Investments Co. lifted its position in shares of Territorial Bancorp by 98.7% during the 2nd quarter. Sei Investments Co. now owns 9,581 shares of the financial services provider’s stock worth $299,000 after buying an additional 4,759 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Territorial Bancorp by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 10,199 shares of the financial services provider’s stock worth $318,000 after buying an additional 165 shares in the last quarter. 44.91% 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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