Territorial Bancorp (TBNK) Stock Rating Lowered by Zacks Investment Research

Territorial Bancorp (NASDAQ:TBNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to 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. “

TBNK has been the topic of a number of other research reports. Sandler O’Neill reaffirmed a “hold” rating and set a $34.00 price objective on shares of Territorial Bancorp in a research note on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 price objective on shares of Territorial Bancorp in a research note on Friday, January 26th. Finally, BidaskClub cut shares of Territorial Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. 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 has an average rating of “Hold” and an average price target of $34.00.

Territorial Bancorp (NASDAQ:TBNK) traded down $0.24 on Wednesday, reaching $30.34. 12,500 shares of the company’s stock were exchanged, compared to its average volume of 21,057. Territorial Bancorp has a 12 month low of $28.12 and a 12 month high of $33.97. 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 $303.20, a price-to-earnings ratio of 19.20 and a beta of 0.26.

Territorial Bancorp (NASDAQ:TBNK) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Territorial Bancorp had a return on equity of 7.24% and a net margin of 20.73%. The business had revenue of $15.76 million for the quarter, compared to analysts’ expectations of $15.90 million. equities research analysts anticipate that Territorial Bancorp will post 2.2 EPS for the current fiscal year.

In other news, General Counsel Vernon Hirata sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $30.54, for a total transaction of $204,618.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.10% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in Territorial Bancorp by 1.8% in the 4th quarter. Renaissance Technologies LLC now owns 574,800 shares of the financial services provider’s stock valued at $17,744,000 after acquiring an additional 10,200 shares during the period. Brandes Investment Partners LP grew its stake in Territorial Bancorp by 75.9% in the 4th quarter. Brandes Investment Partners LP now owns 47,218 shares of the financial services provider’s stock valued at $1,457,000 after acquiring an additional 20,378 shares during the period. Martingale Asset Management L P grew its stake in Territorial Bancorp by 11.0% in the 4th quarter. Martingale Asset Management L P now owns 31,206 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 3,100 shares during the period. Ramsey Quantitative Systems acquired a new stake in Territorial Bancorp in the 4th quarter valued at $112,000. Finally, SNS Financial Group LLC acquired a new stake in Territorial Bancorp in the 4th quarter valued at $583,000. 46.94% of the stock is currently owned by hedge funds and other institutional investors.

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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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