Bancorp territorial (NASDAQ: TBNK) was downgraded by Zacks Investment Research from a “strong buy” rating to a “conservation” rating in a report released Thursday, Zacks.com reports.
According to Zacks, “Territorial Bancorp, Inc. intends to operate as a bank holding company for Territorial Savings Bank, a federally chartered and FDIC insured savings bank that provides financial services to individuals, to families and businesses The Territorial Savings Bank accepts deposits; creates home equity loans and lines of credit, construction loans, commercial and other non-residential real estate loans, consumer loans, multi-family mortgages and other loans; offers a variety of deposit accounts including passbook and statement savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and Super NOW accounts; operates insurance agency; and provides various non-depository investments, such as annuities and mutual funds through a third-party broker. al Bancorp, Inc. is headquartered in Honolulu, Hawaii, with bank offices located throughout the state of Hawaii. “
NASDAQ: TBNK traded up $ 0.06 during trading hours on Thursday, reaching $ 25.20. 3,232 shares of the company were traded in the hands, compared to its average volume of 30,316. The stock has a market cap of $ 234.96 million, a price / earnings ratio of 12.29 and a beta. of 0.51. Territorial Bancorp has a twelve month minimum of $ 23.18 and a twelve month maximum of $ 30.04. The company has a debt ratio of 0.56, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty-day moving average price of $ 25.58.
Territorial Bancorp (NASDAQ: TBNK) last released its quarterly results on Wednesday, October 27. The financial services provider reported earnings per share of $ 0.46 for the quarter, beating the consensus estimate of $ 0.39 by $ 0.07. Territorial Bancorp had a return on equity of 7.48% and a net margin of 27.25%. The company posted revenue of $ 15.09 million for the quarter, compared to analysts’ estimates of $ 14.29 million. As a group, research analysts predict that Territorial Bancorp will post 1.85 EPS for the current year.
Several institutional investors and hedge funds have recently increased or reduced their holdings in TBNK. Teton Advisors Inc. purchased a new stake in Territorial Bancorp during the second quarter valued at approximately $ 636,000. Bridgeway Capital Management LLC increased its stake in Territorial Bancorp by 33.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 79,307 shares of the financial services provider valued at $ 2,060,000 after acquiring an additional 20,100 shares in the last quarter. Ergoteles LLC acquired a new position in Territorial Bancorp in the 2nd quarter valued at approximately $ 883,000. Millennium Management LLC acquired a new position in Territorial Bancorp in the 2nd quarter valued at approximately $ 2,002,000. Finally, American Century Companies Inc. increased its stake in Territorial Bancorp by 37.5% in the 2nd quarter. American Century Companies Inc. now owns 15,292 shares of the financial services provider valued at $ 397,000 after acquiring an additional 4,170 shares in the last quarter. Institutional investors hold 45.05% of the shares of the company.
Territorial Bancorp Company Profile
Territorial Bancorp, Inc. operates as the bank holding company for Territorial Savings Bank, which provides financial services to individuals, families and businesses in Hawaii. Its business consists primarily of accepting deposits from the general public and investing these deposits, along with funds generated from operations and borrowing, in residential mortgage loans of one to four families and investment securities.
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