Brokerages Anticipate Territorial Bancorp Inc. (NASDAQ:TBNK) to Post $0.44 Earnings Per Share
Territorial Bancorp Inc. (NASDAQ:TBNK) has earned a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating and one has given a strong buy rating to the company.
Brokers have set a 12 month consensus price objective of $29.50 for the company and are predicting that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also given Territorial Bancorp an industry rank of 102 out of 265 based on the ratings given to related companies.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Territorial Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Friday, August 5th. Keefe, Bruyette & Woods raised their price target on shares of Territorial Bancorp from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, August 1st.
In other news, General Counsel Vernon Hirata sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $29.03, for a total transaction of $203,210.00. Following the completion of the sale, the general counsel now owns 55,538 shares in the company, valued at approximately $1,612,268.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David S. Murakami sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $29.07, for a total transaction of $116,280.00. Following the sale, the director now owns 27,464 shares of the company’s stock, valued at approximately $798,378.48. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP increased its stake in Territorial Bancorp by 0.3% in the second quarter. First Trust Advisors LP now owns 13,697 shares of the financial services provider’s stock valued at $363,000 after buying an additional 39 shares during the period. California Public Employees Retirement System increased its stake in Territorial Bancorp by 26.4% in the second quarter. California Public Employees Retirement System now owns 20,600 shares of the financial services provider’s stock valued at $545,000 after buying an additional 4,300 shares during the period. Emerald Acquisition Ltd. bought a new stake in Territorial Bancorp during the second quarter valued at $1,652,000. Bank of New York Mellon Corp increased its stake in Territorial Bancorp by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 52,101 shares of the financial services provider’s stock valued at $1,379,000 after buying an additional 1,106 shares during the period. Finally, Strs Ohio increased its stake in Territorial Bancorp by 8.1% in the second quarter. Strs Ohio now owns 8,000 shares of the financial services provider’s stock valued at $211,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 43.02% of the company’s stock.
Shares of Territorial Bancorp (NASDAQ:TBNK) traded up 0.1378% during midday trading on Wednesday, hitting $28.9999. The stock had a trading volume of 1,872 shares. The firm has a 50 day moving average price of $28.40 and a 200-day moving average price of $26.73. The stock has a market cap of $262.48 million, a PE ratio of 17.6829 and a beta of 0.29. Territorial Bancorp has a 52-week low of $24.87 and a 52-week high of $29.44.
Territorial Bancorp (NASDAQ:TBNK) last issued its quarterly earnings results on Friday, July 29th. The financial services provider reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. Territorial Bancorp had a net margin of 21.86% and a return on equity of 6.86%. Equities analysts predict that Territorial Bancorp will post $1.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Wednesday, August 10th. Territorial Bancorp’s dividend payout ratio (DPR) is 43.90%.
Territorial Bancorp Company Profile
Territorial Bancorp Inc is a bank holding company. The Company owns Territorial Savings Bank (the Bank). The Bank provides financial services to individuals, families and businesses through its approximately 30 banking offices located throughout the State of Hawaii. Its business consists 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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