Territorial Bancorp (TBNK) Lowered to Sell at Zacks Investment Research

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

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. “

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Several other research firms have also weighed in on TBNK. BidaskClub lowered shares of Territorial Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 target price on shares of Territorial Bancorp in a research note on Friday, January 26th. Sandler O’Neill reiterated a “hold” rating and set a $34.00 target price on shares of Territorial Bancorp in a research note on Friday, January 26th. Finally, ValuEngine upgraded shares of Territorial Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.00.

Shares of TBNK stock opened at $29.48 on Friday. The stock has a market cap of $286.87, a price-to-earnings ratio of 18.66 and a beta of 0.26. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. Territorial Bancorp has a twelve month low of $28.12 and a twelve month high of $33.00.

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 the consensus estimate of $0.45 by ($0.01). Territorial Bancorp had a net margin of 20.73% and a return on equity of 7.24%. The company had revenue of $15.76 million during the quarter, compared to analyst estimates of $15.90 million. equities analysts predict that Territorial Bancorp will post 2.13 EPS for the current fiscal year.

In other Territorial Bancorp news, Director Howard Y. Ikeda sold 3,736 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $30.59, for a total transaction of $114,284.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new stake in Territorial Bancorp during the fourth quarter valued at $132,000. Stone Ridge Asset Management LLC bought a new stake in Territorial Bancorp during the fourth quarter valued at $281,000. Deutsche Bank AG increased its stake in Territorial Bancorp by 104.2% during the fourth quarter. Deutsche Bank AG now owns 25,549 shares of the financial services provider’s stock valued at $786,000 after purchasing an additional 13,040 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Territorial Bancorp by 1.8% during the fourth quarter. Renaissance Technologies LLC now owns 574,800 shares of the financial services provider’s stock worth $17,744,000 after acquiring an additional 10,200 shares during the last quarter. Finally, Brandes Investment Partners LP grew its position in shares of Territorial Bancorp by 75.9% during the fourth quarter. Brandes Investment Partners LP now owns 47,218 shares of the financial services provider’s stock worth $1,457,000 after acquiring an additional 20,378 shares during the last quarter. Hedge funds and other institutional investors own 45.84% 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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