Keefe, Bruyette & Woods Raises Territorial Bancorp (NASDAQ:TBNK) Price Target to $11.27

Territorial Bancorp (NASDAQ:TBNK) had its target price hoisted by Keefe, Bruyette & Woods from $9.66 to $11.27 in a research note published on Wednesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on TBNK. Piper Sandler upgraded Territorial Bancorp from an underweight rating to a neutral rating and upped their price target for the stock from $8.00 to $8.50 in a report on Tuesday, May 7th. StockNews.com assumed coverage on Territorial Bancorp in a report on Thursday, August 8th. They set a hold rating for the company.

Territorial Bancorp Trading Up 3.8 %

Shares of Territorial Bancorp stock opened at $9.54 on Wednesday. The stock has a fifty day simple moving average of $8.64 and a 200 day simple moving average of $8.44. Territorial Bancorp has a 12-month low of $6.85 and a 12-month high of $11.64. The company has a market capitalization of $84.24 million, a P/E ratio of 38.16 and a beta of 0.61. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.95.

Territorial Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, August 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.42%. Territorial Bancorp’s dividend payout ratio (DPR) is 16.00%.

Institutional Trading of Territorial Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in Territorial Bancorp during the 2nd quarter worth about $501,000. Longfellow Investment Management Co. LLC purchased a new stake in Territorial Bancorp during the 2nd quarter worth about $37,000. International Assets Investment Management LLC purchased a new stake in Territorial Bancorp during the 2nd quarter worth about $27,000. Acadian Asset Management LLC raised its holdings in shares of Territorial Bancorp by 3.7% in the 1st quarter. Acadian Asset Management LLC now owns 79,342 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 2,801 shares in the last quarter. Finally, White Pine Capital LLC raised its holdings in shares of Territorial Bancorp by 61.1% in the 4th quarter. White Pine Capital LLC now owns 50,723 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 19,245 shares in the last quarter. Hedge funds and other institutional investors own 50.35% of the company’s stock.

About Territorial Bancorp

Territorial Bancorp Inc operates as the holding company for Territorial Savings Bank that engages in the provision of various financial services to individuals, families, and businesses in the State of Hawaii. The company offers a range of deposit accounts, including passbook and statement savings, money market, commercial and regular checking, and Super NOW accounts, as well as certificates of deposit.