Territorial Bancorp (NASDAQ:TBNK) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Several other brokerages also recently issued reports on TBNK. ValuEngine upgraded Territorial Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. Zacks Investment Research upgraded Territorial Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $32.00.
Get Territorial Bancorp alerts:Shares of NASDAQ TBNK opened at $28.14 on Friday. Territorial Bancorp has a 12-month low of $24.96 and a 12-month high of $31.95. The firm has a market capitalization of $267.69 million, a P/E ratio of 13.86 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93.
Territorial Bancorp (NASDAQ:TBNK) last announced its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Territorial Bancorp had a return on equity of 8.20% and a net margin of 25.13%. The firm had revenue of $15.70 million during the quarter, compared to the consensus estimate of $15.70 million. On average, analysts forecast that Territorial Bancorp will post 1.97 earnings per share for the current year.
In other news, Director Howard Y. Ikeda sold 3,666 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $27.61, for a total transaction of $101,218.26. Following the completion of the sale, the director now directly owns 30,000 shares in the company, valued at $828,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Allan S. Kitagawa sold 7,474 shares of the firm’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $27.33, for a total value of $204,264.42. The disclosure for this sale can be found here. 11.70% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in TBNK. BlackRock Inc. grew its stake in shares of Territorial Bancorp by 3.2% during the second quarter. BlackRock Inc. now owns 439,807 shares of the financial services provider’s stock valued at $13,634,000 after acquiring an additional 13,751 shares in the last quarter. Millennium Management LLC grew its stake in shares of Territorial Bancorp by 67.2% during the second quarter. Millennium Management LLC now owns 18,353 shares of the financial services provider’s stock valued at $569,000 after acquiring an additional 7,375 shares in the last quarter. Northern Trust Corp grew its stake in shares of Territorial Bancorp by 5.6% during the second quarter. Northern Trust Corp now owns 89,834 shares of the financial services provider’s stock valued at $2,785,000 after acquiring an additional 4,781 shares in the last quarter. Ramsey Quantitative Systems grew its stake in shares of Territorial Bancorp by 46.6% during the third quarter. Ramsey Quantitative Systems now owns 5,424 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 1,724 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Territorial Bancorp by 10.3% during the third quarter. Alliancebernstein L.P. now owns 61,075 shares of the financial services provider’s stock valued at $1,805,000 after acquiring an additional 5,720 shares in the last quarter. Institutional investors own 43.04% of the company’s stock.
About Territorial Bancorp
Territorial Bancorp Inc operates as the holding company for Territorial Savings Bank that provides various financial services to individuals, families, and businesses. The company offers a range of deposit accounts, including passbook and statement savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and NOW accounts.
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