Territorial Bancorp (NASDAQ:TBNK) Upgraded to “Neutral” at Piper Sandler

Piper Sandler upgraded shares of Territorial Bancorp (NASDAQ:TBNK) from an underweight rating to a neutral rating in a report released on Tuesday, Benzinga reports. The brokerage currently has $8.50 price target on the financial services provider’s stock, up from their prior price target of $8.00.

Separately, StockNews.com began coverage on shares of Territorial Bancorp in a research note on Saturday, May 4th. They set a hold rating on the stock.

Territorial Bancorp Trading Down 0.1 %

NASDAQ:TBNK opened at $8.43 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.86 and a current ratio of 0.86. Territorial Bancorp has a one year low of $6.85 and a one year high of $14.50. The business’s 50-day simple moving average is $7.88 and its 200 day simple moving average is $8.84. The stock has a market cap of $74.41 million, a price-to-earnings ratio of 33.76 and a beta of 0.64.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of Territorial Bancorp by 1,015.0% in the 4th quarter. International Assets Investment Management LLC now owns 36,795 shares of the financial services provider’s stock valued at $410,000 after buying an additional 33,495 shares during the period. White Pine Capital LLC boosted its position in shares of Territorial Bancorp by 61.1% during the fourth quarter. White Pine Capital LLC now owns 50,723 shares of the financial services provider’s stock worth $566,000 after buying an additional 19,245 shares during the period. Finally, Brandywine Global Investment Management LLC grew its holdings in Territorial Bancorp by 1.9% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 86,909 shares of the financial services provider’s stock worth $790,000 after buying an additional 1,600 shares in the last quarter. Institutional investors and hedge funds 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.