Territorial Bancorp (NASDAQ:TBNK) Stock Rating Lowered by Zacks Investment Research

Territorial Bancorp (NASDAQ:TBNKGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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. “

TBNK has been the subject of a number of other research reports. TheStreet downgraded shares of Territorial Bancorp from a “b” rating to a “c+” rating in a research report on Monday, March 14th. StockNews.com started coverage on Territorial Bancorp in a research report on Tuesday, April 19th. They set a “hold” rating for the company. Finally, Piper Sandler lowered Territorial Bancorp from a “neutral” rating to an “underweight” rating in a research report on Monday, May 2nd.

TBNK stock opened at $21.74 on Thursday. The company’s 50 day simple moving average is $23.94 and its 200-day simple moving average is $24.85. Territorial Bancorp has a 52-week low of $21.52 and a 52-week high of $26.81. 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 market capitalization of $202.51 million, a P/E ratio of 11.56 and a beta of 0.47.

Territorial Bancorp (NASDAQ:TBNKGet Rating) last announced 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%. Sell-side analysts predict that Territorial Bancorp will post 1.82 EPS for the current fiscal year.

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

Large investors have recently made changes to their positions in the stock. Creative Planning bought a new stake in Territorial Bancorp during the 3rd quarter valued at approximately $492,000. American Century Companies Inc. boosted its stake in Territorial Bancorp by 15.6% during the 3rd quarter. American Century Companies Inc. now owns 17,683 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 2,391 shares during the period. Russell Investments Group Ltd. boosted its stake in Territorial Bancorp by 12.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 231,982 shares of the financial services provider’s stock valued at $5,885,000 after purchasing an additional 26,042 shares during the period. Alliancebernstein L.P. boosted its stake in Territorial Bancorp by 24.9% during the 3rd quarter. Alliancebernstein L.P. now owns 317,644 shares of the financial services provider’s stock valued at $8,062,000 after purchasing an additional 63,263 shares during the period. Finally, Teton Advisors Inc. boosted its stake in Territorial Bancorp by 4.1% during the 4th quarter. Teton Advisors Inc. now owns 25,500 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 54.20% of the company’s stock.

Territorial Bancorp Company Profile (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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