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Piper Sandler Downgrades Territorial Bancorp: Here's What You Need To Know

Piper Sandler downgraded its rating of Territorial Bancorp (NASDAQ:TBNK) to Underweight with a price target of $24.00, changing its price target from $27.00 to $24.00.

Shares of Territorial Bancorp are trading up 0.13% over the last 24 hours, at $22.74 per share.

A move to $24.00 would account for a 5.54% increase from the current share price.

About Territorial Bancorp

Territorial Bancorp Inc operates as a bank holding company. It offers a wide variety of FDIC-insured deposit products and loan products for the consumer and small businesses. Its business consists primarily 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. Its loan segment portfolio consists of Residential Mortgage; Construction, Commercial, and Other Mortgage Loans; Home Equity loans & line of credit; and Consumer & others.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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