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

Territorial Bancorp (NASDAQ:TBNK) was upgraded by research analysts at Piper Sandler from an “underweight” rating to a “neutral” rating in a report released on Tuesday, Benzinga reports. The brokerage currently has a $8.50 price objective on the financial services provider’s stock, up from their prior price objective of $8.00. Piper Sandler’s price target suggests a potential upside of 3.53% from the stock’s current price.

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

Territorial Bancorp Trading Up 1.4 %

TBNK stock opened at $8.21 on Tuesday. The business has a fifty day moving average price of $7.89 and a 200 day moving average price of $8.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.86 and a quick ratio of 0.86. Territorial Bancorp has a fifty-two week low of $6.85 and a fifty-two week high of $14.50. The stock has a market capitalization of $72.47 million, a price-to-earnings ratio of 32.84 and a beta of 0.64.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TBNK. White Pine Capital LLC boosted its holdings in Territorial Bancorp by 61.1% in the fourth 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 last quarter. International Assets Investment Management LLC lifted its position 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 purchasing an additional 33,495 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its stake in shares of 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 valued at $790,000 after purchasing an additional 1,600 shares during the last quarter. 50.35% of the stock is currently owned by 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.