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

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. “

Shares of Territorial Bancorp (TBNK) traded up $0.13 during midday trading on Friday, hitting $31.16. The stock had a trading volume of 25,700 shares, compared to its average volume of 20,633. Territorial Bancorp has a 1 year low of $28.12 and a 1 year high of $34.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $306.59, a PE ratio of 17.22 and a beta of 0.29.

Territorial Bancorp (NASDAQ:TBNK) last released its quarterly earnings data 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. Territorial Bancorp had a return on equity of 7.34% and a net margin of 24.07%. The company had revenue of $15.57 million for the quarter, compared to analyst estimates of $15.90 million. research analysts forecast that Territorial Bancorp will post 1.8 earnings per share for the current fiscal year.

In other news, General Counsel Vernon Hirata sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $30.17, for a total value of $271,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk W. Caldwell sold 2,125 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $32.54, for a total value of $69,147.50. The disclosure for this sale can be found here. Insiders sold a total of 17,825 shares of company stock worth $545,296 over the last 90 days. Corporate insiders own 13.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legion Partners Asset Management LLC lifted its holdings in Territorial Bancorp by 46.1% in the 3rd quarter. Legion Partners Asset Management LLC now owns 426,047 shares of the financial services provider’s stock worth $13,450,000 after buying an additional 134,400 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in shares of Territorial Bancorp by 18.4% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 14,817 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 2,300 shares in the last quarter. Royce & Associates LP raised its position in shares of Territorial Bancorp by 16.9% in the 3rd quarter. Royce & Associates LP now owns 81,800 shares of the financial services provider’s stock worth $2,582,000 after acquiring an additional 11,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Territorial Bancorp by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 447,359 shares of the financial services provider’s stock worth $14,123,000 after acquiring an additional 23,254 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC bought a new position in shares of Territorial Bancorp in the 3rd quarter worth approximately $253,000. Institutional investors and hedge funds own 47.15% of the company’s stock.

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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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