Territorial Bancorp (NASDAQ:TBNK) Stock Price Up 7.5%

Shares of Territorial Bancorp Inc (NASDAQ:TBNK) rose 7.5% on Friday . The stock traded as high as $31.44 and last traded at $30.90. Approximately 104,862 shares were traded during mid-day trading, an increase of 659% from the average daily volume of 13,811 shares. The stock had previously closed at $28.75.

Several equities analysts have recently issued reports on TBNK shares. Zacks Investment Research raised Territorial Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Saturday, April 13th. ValuEngine raised Territorial Bancorp from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Finally, BidaskClub raised Territorial Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $32.00.

The company’s fifty day simple moving average is $27.86. The company has a market cap of $297.94 million, a price-to-earnings ratio of 13.79 and a beta of 0.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.95.

Territorial Bancorp (NASDAQ:TBNK) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.20. Territorial Bancorp had a return on equity of 8.86% and a net margin of 26.26%. The business had revenue of $18.28 million for the quarter, compared to the consensus estimate of $15.70 million. On average, analysts expect that Territorial Bancorp Inc will post 2.18 earnings per share for the current year.

The business also recently declared a None dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 5th. Territorial Bancorp’s dividend payout ratio is presently 43.35%.

In related news, Vice Chairman Ralph Y. Nakatsuka sold 5,025 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.63, for a total transaction of $143,865.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Vernon Hirata sold 3,500 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $27.26, for a total value of $95,410.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,726 shares of company stock worth $383,065. 10.80% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in Territorial Bancorp by 514.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,629 shares of the financial services provider’s stock worth $44,000 after buying an additional 1,364 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Territorial Bancorp in the 4th quarter worth about $75,000. MetLife Investment Advisors LLC acquired a new position in Territorial Bancorp in the 4th quarter worth about $103,000. Bank of America Corp DE raised its holdings in Territorial Bancorp by 61.7% in the 4th quarter. Bank of America Corp DE now owns 10,693 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 4,080 shares during the period. Finally, Rhumbline Advisers raised its holdings in Territorial Bancorp by 42.0% in the 4th quarter. Rhumbline Advisers now owns 11,343 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 3,355 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Territorial Bancorp (NASDAQ:TBNK)

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 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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