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AMD   132.04 (-3.54%)
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MU   93.00 (-4.48%)
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ACB   5.11 (-7.26%)
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Territorial Bancorp (NASDAQ:TBNK) Stock Rating Lowered by Zacks Investment Research

Thursday, December 30, 2021 | MarketBeat

Territorial Bancorp (NASDAQ:TBNK) was downgraded by Zacks Investment Research from a "strong-buy" rating to a "hold" rating in a report released on Thursday, Zacks.com reports.

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. "

NASDAQ:TBNK traded up $0.06 during trading hours on Thursday, hitting $25.20. 3,232 shares of the company's stock traded hands, compared to its average volume of 30,316. The stock has a market cap of $234.96 million, a price-to-earnings ratio of 12.29 and a beta of 0.51. Territorial Bancorp has a twelve month low of $23.18 and a twelve month high of $30.04. The company has a debt-to-equity 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 posted its quarterly earnings results on Wednesday, October 27th. The financial services provider reported $0.46 earnings per share 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 firm had revenue of $15.09 million for the quarter, compared to analyst 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 added to or reduced their stakes in TBNK. Teton Advisors Inc. bought a new stake in Territorial Bancorp during the 2nd quarter valued at approximately $636,000. Bridgeway Capital Management LLC raised its holdings in Territorial Bancorp by 33.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 79,307 shares of the financial services provider's stock 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. raised its holdings in Territorial Bancorp by 37.5% in the 2nd quarter. American Century Companies Inc. now owns 15,292 shares of the financial services provider's stock valued at $397,000 after acquiring an additional 4,170 shares in the last quarter. Institutional investors own 45.05% of the company's stock.

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 those deposits, together with funds generated from operations and borrowings, in one- to four-family residential mortgage loans and investment securities.

Further Reading: The mechanics of the bid-ask spread in trading

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

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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