Zacks Investment Research upgraded shares of Territorial Bancorp Inc. (NASDAQ:TBNK) from a sell rating to a hold rating in a research note released on Wednesday morning.

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. “

Other equities research analysts also recently issued reports about the stock. UBS AG downgraded shares of Territorial Bancorp to an underperform rating in a research note on Thursday, August 10th. BidaskClub downgraded shares of Territorial Bancorp from a sell rating to a strong sell rating in a research note on Thursday, August 3rd. Raymond James Financial, Inc. reiterated an underperform rating on shares of Territorial Bancorp in a research note on Thursday, August 10th. Finally, ValuEngine downgraded shares of Territorial Bancorp from a buy rating to a hold rating in a research note on Tuesday, June 27th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has a consensus rating of Sell and an average price target of $36.00.

Territorial Bancorp (NASDAQ TBNK) traded down 0.88% during trading on Wednesday, hitting $29.40. 4,572 shares of the company were exchanged. The company has a 50-day moving average of $29.86 and a 200-day moving average of $30.87. The company has a market capitalization of $272.45 million, a price-to-earnings ratio of 16.07 and a beta of 0.28. Territorial Bancorp has a 12 month low of $27.73 and a 12 month high of $34.00.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.80 annualized dividend and a yield of 2.70%. Territorial Bancorp’s dividend payout ratio is currently 43.96%.

In other Territorial Bancorp news, Director Kirk W. Caldwell sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $32.11, for a total transaction of $72,247.50. Following the completion of the sale, the director now directly owns 38,502 shares in the company, valued at $1,236,299.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Allan S. Kitagawa sold 4,813 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $30.00, for a total transaction of $144,390.00. The disclosure for this sale can be found here. 9.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Territorial Bancorp during the first quarter worth approximately $130,000. Acrospire Investment Management LLC lifted its position in shares of Territorial Bancorp by 10.6% during the first quarter. Acrospire Investment Management LLC now owns 4,255 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 408 shares in the last quarter. Sei Investments Co. lifted its position in shares of Territorial Bancorp by 4.6% during the first quarter. Sei Investments Co. now owns 4,822 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 213 shares in the last quarter. Voya Investment Management LLC acquired a new position in shares of Territorial Bancorp during the second quarter worth $204,000. Finally, Strs Ohio lifted its position in shares of Territorial Bancorp by 6.5% during the second quarter. Strs Ohio now owns 8,200 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 45.97% of the company’s stock.

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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