Territorial Bancorp (TBNK) Upgraded by BidaskClub to Sell
BidaskClub upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from a strong sell rating to a sell rating in a research note issued to investors on Thursday.
A number of other brokerages have also recently weighed in on TBNK. Sandler O’Neill reaffirmed a hold rating and issued a $34.00 price objective on shares of Territorial Bancorp in a research note on Friday, January 26th. Zacks Investment Research cut Territorial Bancorp from a buy rating to a hold rating in a research note on Wednesday, February 14th. ValuEngine raised Territorial Bancorp from a hold rating to a buy rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $33.00 price objective on shares of Territorial Bancorp in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $34.00.
Territorial Bancorp (NASDAQ TBNK) traded up $0.03 during mid-day trading on Thursday, reaching $30.76. The company’s stock had a trading volume of 34,358 shares, compared to its average volume of 26,146. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $304.99, a PE ratio of 17.18 and a beta of 0.26. Territorial Bancorp has a one year low of $28.12 and a one year high of $33.47.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were paid a $0.20 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. Territorial Bancorp’s payout ratio is presently 50.63%.
In other news, Director Howard Y. Ikeda sold 3,736 shares of Territorial Bancorp stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $30.59, for a total value of $114,284.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in Territorial Bancorp by 1.8% during the 4th quarter. Renaissance Technologies LLC now owns 574,800 shares of the financial services provider’s stock worth $17,744,000 after purchasing an additional 10,200 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Territorial Bancorp by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 447,359 shares of the financial services provider’s stock worth $14,123,000 after purchasing an additional 23,254 shares in the last quarter. BlackRock Inc. grew its stake in Territorial Bancorp by 0.8% during the 4th quarter. BlackRock Inc. now owns 430,503 shares of the financial services provider’s stock worth $13,291,000 after purchasing an additional 3,239 shares in the last quarter. Legion Partners Asset Management LLC grew its stake in Territorial Bancorp by 46.1% during 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 purchasing an additional 134,400 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Territorial Bancorp by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 315,570 shares of the financial services provider’s stock worth $9,842,000 after purchasing an additional 6,595 shares in the last quarter. 45.84% of the stock is owned by institutional investors and hedge funds.
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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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