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

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

Separately, StockNews.com initiated coverage on Territorial Bancorp in a research report on Saturday. They set a hold rating on the stock.

Territorial Bancorp Stock Down 1.2 %

Shares of NASDAQ:TBNK opened at $8.10 on Tuesday. The company has a market cap of $71.50 million, a price-to-earnings ratio of 32.40 and a beta of 0.64. Territorial Bancorp has a 12 month low of $6.85 and a 12 month high of $14.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $7.91 and a 200 day moving average price of $8.84.

Institutional Trading of Territorial Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC boosted its position in shares of Territorial Bancorp by 1.9% during the third quarter. Brandywine Global Investment Management LLC now owns 86,909 shares of the financial services provider’s stock valued at $790,000 after buying an additional 1,600 shares during the period. International Assets Investment Management LLC boosted its holdings in Territorial Bancorp by 1,015.0% during 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 acquiring an additional 33,495 shares during the period. Finally, White Pine Capital LLC boosted its holdings in Territorial Bancorp by 61.1% during 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 during the period. 50.35% of the stock is owned by hedge funds and other institutional investors.

Territorial Bancorp Company Profile

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.