Zacks Investment Research Downgrades Territorial Bancorp Inc. (TBNK) to Sell

Zacks Investment Research downgraded shares of Territorial Bancorp Inc. (NASDAQ:TBNK) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

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 topic of several other reports. Raymond James Financial, Inc. reissued an underperform rating on shares of Territorial Bancorp in a research report on Thursday, August 10th. BidaskClub downgraded shares of Territorial Bancorp from a hold rating to a sell rating in a research report on Thursday, July 13th. Finally, UBS AG downgraded shares of Territorial Bancorp to an underperform rating in a research report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The company currently has an average rating of Sell.

Shares of Territorial Bancorp (TBNK) opened at $31.44 on Thursday. The firm has a market cap of $309.86, a PE ratio of 17.37 and a beta of 0.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.90 and a quick ratio of 0.90. Territorial Bancorp has a 1 year low of $27.73 and a 1 year high of $34.00.

Territorial Bancorp (NASDAQ:TBNK) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Territorial Bancorp had a net margin of 24.07% and a return on equity of 7.38%. The company had revenue of $15.57 million for the quarter, compared to the consensus estimate of $15.90 million. research analysts anticipate that Territorial Bancorp will post 1.8 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, November 7th. Territorial Bancorp’s payout ratio is presently 44.20%.

In other news, General Counsel Vernon Hirata sold 1,900 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $30.52, for a total transaction of $57,988.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Allan S. Kitagawa sold 4,813 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $30.00, for a total transaction of $144,390.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,928 shares of company stock worth $424,551. Insiders own 9.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Territorial Bancorp during the 1st quarter valued at about $130,000. Voya Investment Management LLC bought a new position in shares of Territorial Bancorp in the 2nd quarter worth approximately $204,000. Strs Ohio lifted its stake in shares of Territorial Bancorp by 6.5% in the 2nd quarter. Strs Ohio now owns 8,200 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 500 shares during the period. Sei Investments Co. lifted its stake in shares of Territorial Bancorp by 98.7% in the 2nd quarter. Sei Investments Co. now owns 9,581 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 4,759 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Territorial Bancorp by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 10,199 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 165 shares during the period. 44.67% of the stock is currently owned by hedge funds and other institutional investors.

About Territorial Bancorp

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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