Territorial Bancorp Inc. (TBNK) Rating Increased to Hold at Zacks Investment Research

Territorial Bancorp Inc. (NASDAQ:TBNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

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. “

A number of other equities analysts have also weighed in on the company. ValuEngine lowered Territorial Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub lowered Territorial Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Territorial Bancorp in a research note on Thursday, August 10th. Finally, UBS AG lowered Territorial Bancorp to an “underperform” rating in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average target price of $36.00.

Shares of Territorial Bancorp (NASDAQ TBNK) traded up 0.83% during mid-day trading on Tuesday, hitting $30.21. The stock had a trading volume of 2,622 shares. The stock has a 50 day moving average of $29.78 and a 200-day moving average of $30.79. Territorial Bancorp has a 52 week low of $27.73 and a 52 week high of $34.00. The stock has a market capitalization of $279.96 million, a P/E ratio of 16.51 and a beta of 0.28.

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In related news, Chairman Allan S. Kitagawa sold 4,813 shares of the 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.80% of the company’s stock.

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Territorial Bancorp during the first quarter worth approximately $130,000. Sei Investments Co. grew its position in 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 buying an additional 213 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Territorial Bancorp during the second quarter worth approximately $204,000. Strs Ohio grew its position in 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 buying an additional 500 shares in the last quarter. Finally, Oxford Asset Management acquired a new stake in Territorial Bancorp during the first quarter worth approximately $272,000. 45.97% of the stock is currently owned by institutional investors and hedge funds.

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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