StockNews.com Initiates Coverage on Territorial Bancorp (NASDAQ:TBNK)

StockNews.com started coverage on shares of Territorial Bancorp (NASDAQ:TBNKGet Rating) in a note issued to investors on Saturday. The firm set a “hold” rating on the financial services provider’s stock.

TBNK has been the subject of several other reports. TheStreet cut shares of Territorial Bancorp from a “b” rating to a “c+” rating in a research note on Monday, March 14th. Zacks Investment Research cut shares of Territorial Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Piper Sandler cut shares of Territorial Bancorp from a “neutral” rating to an “underweight” rating in a research report on Monday, May 2nd.

TBNK opened at $21.74 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a fifty day moving average price of $23.94 and a 200 day moving average price of $24.85. Territorial Bancorp has a 1 year low of $21.52 and a 1 year high of $26.81. The stock has a market cap of $202.51 million, a P/E ratio of 11.56 and a beta of 0.47.

Territorial Bancorp (NASDAQ:TBNKGet Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. Territorial Bancorp had a net margin of 25.93% and a return on equity of 6.77%. Equities analysts expect that Territorial Bancorp will post 1.82 EPS for the current year.

In related news, COO Vernon Hirata sold 3,546 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $23.45, for a total value of $83,153.70. Following the completion of the sale, the chief operating officer now owns 80,597 shares of the company’s stock, valued at $1,889,999.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Creative Planning purchased a new position in Territorial Bancorp during the third quarter worth about $492,000. American Century Companies Inc. boosted its stake in Territorial Bancorp by 15.6% during the third quarter. American Century Companies Inc. now owns 17,683 shares of the financial services provider’s stock worth $449,000 after buying an additional 2,391 shares during the period. Russell Investments Group Ltd. boosted its stake in Territorial Bancorp by 12.6% during the third quarter. Russell Investments Group Ltd. now owns 231,982 shares of the financial services provider’s stock worth $5,885,000 after buying an additional 26,042 shares during the period. Alliancebernstein L.P. boosted its stake in Territorial Bancorp by 24.9% during the third quarter. Alliancebernstein L.P. now owns 317,644 shares of the financial services provider’s stock worth $8,062,000 after buying an additional 63,263 shares during the period. Finally, Teton Advisors Inc. boosted its stake in Territorial Bancorp by 4.1% during the fourth quarter. Teton Advisors Inc. now owns 25,500 shares of the financial services provider’s stock worth $644,000 after buying an additional 1,000 shares during the period. 54.20% of the stock is owned by institutional investors.

About Territorial Bancorp (Get Rating)

Territorial Bancorp Inc operates as the holding company for Territorial Savings Bank that provides various financial services to individuals, families, and businesses in the State of Hawaii. 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 Super NOW accounts.

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