Territorial Bancorp (TBNK) Upgraded to Hold at Zacks Investment Research

Territorial Bancorp (NASDAQ:TBNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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. “

TBNK has been the subject of several other reports. BidaskClub raised shares of Territorial Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. ValuEngine raised shares of Territorial Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.00.

Shares of TBNK traded up $0.30 during mid-day trading on Tuesday, reaching $27.69. 435 shares of the stock traded hands, compared to its average volume of 12,004. Territorial Bancorp has a 1 year low of $24.96 and a 1 year high of $31.95. The firm has a market capitalization of $265.08 million, a P/E ratio of 13.64 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93.

Territorial Bancorp (NASDAQ:TBNK) last announced its earnings results on Tuesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Territorial Bancorp had a net margin of 25.13% and a return on equity of 8.20%. The company had revenue of $15.70 million during the quarter, compared to analyst estimates of $15.70 million. On average, analysts expect that Territorial Bancorp will post 1.97 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Maltese Capital Management LLC bought a new position in shares of Territorial Bancorp during the third quarter valued at about $149,000. Ramsey Quantitative Systems increased its position in shares of Territorial Bancorp by 46.6% during the third quarter. Ramsey Quantitative Systems now owns 5,424 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,724 shares during the period. Seizert Capital Partners LLC purchased a new position in shares of Territorial Bancorp during the fourth quarter valued at about $220,000. Rhumbline Advisers increased its position in shares of Territorial Bancorp by 42.0% during the fourth quarter. Rhumbline Advisers now owns 11,343 shares of the financial services provider’s stock valued at $295,000 after buying an additional 3,355 shares during the period. Finally, Millennium Management LLC increased its position in shares of Territorial Bancorp by 67.2% during the second quarter. Millennium Management LLC now owns 18,353 shares of the financial services provider’s stock valued at $569,000 after buying an additional 7,375 shares during the period. 43.04% of the stock is owned by hedge funds and other institutional investors.

About Territorial Bancorp

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

Further Reading: Understanding Options Trading

Get a free copy of the Zacks research report on Territorial Bancorp (TBNK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Territorial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Territorial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply