Territorial Bancorp
TBNK
Market cap $82.9M

10.41 USD

+0.02

0.19%

Updated Oct 22, 10:26 AM EDT

1 day

0.19%

5 days

-5.28%

1 month

1.46%

3 months

8.44%

6 months

42.41%

Year to date

-7.96%

1 year

32.44%

5 years

-64.10%

About: 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 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. The company offers a variety of deposit accounts, including passbook and statement savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts and Super NOW accounts Its loan segment portfolio consists of Residential Mortgage; Construction, Commercial, and Other Mortgage Loans; Home Equity loans & line of credit; and Consumer & others.

Employees: 240

Financials Savings Institution, Federally Chartered

0

Funds holding %

of 6,740 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

3,400% more call options, than puts

Call options by funds: $70K | Put options by funds: $2K

50% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 8

11% more funds holding

Funds holding: 37 [Q1] → 41 (+4) [Q2]

2.43% less ownership

Funds ownership: 40.68% [Q1] → 38.25% (-2.43%) [Q2]

5% less capital invested

Capital invested by funds: $28.9M [Q1] → $27.4M (-$1.57M) [Q2]

54% less repeat investments, than reductions

Existing positions increased: 6 | Existing positions reduced: 13

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Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$11.27

8%

upside

Avg. target

$11.27

8%

upside

High target

$11.27

8%

upside

1 analyst rating

0 positive

0%

1 neutral

100%

0 negative

0%

Keefe, Bruyette & Woods

Kelly Motta

73% 1-year accuracy

11 / 15 met price target

8%upside

$11.27

Market Perform

Maintained

14 Aug 2024

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Financial journalist opinion

Based on 10 articles about TBNK published over the past 30 days

Leading Independent Proxy Advisory Firm ISS Issues New Recommendation in Support of Territorial/Hope Bancorp Combination

ISS Recommends Territorial Shareholders Vote “FOR” Hope Bancorp Transaction ISS Recognizes Value Creation Upside of the Hope Bancorp Merger and Risks and Uncertainty Associated with Blue Hill's Preliminary Indication of Interest Territorial Board Urges Shareholders to Follow ISS's Recommendation and Vote “FOR” the Hope Bancorp Merger Today HONOLULU, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (“Territorial” or the “Company”) today announced that leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) has reissued its report assessing Territorial's proposed merger with Hope Bancorp, Inc. (NASDAQ: HOPE) (“Hope Bancorp”). In its report, ISS recommends that Territorial shareholders vote “FOR” the Company's pending merger with Hope Bancorp at the Special Meeting on November 6, 2024, at 8:30 a.m.

Leading Independent Proxy Advisory Firm ISS Issues New Recommendation in Support of Territorial/Hope Bancorp Combination

Blue Hill Advisors and Investors Reaffirm Commitment to Territorial Transaction; Will Stand by Offer if Hope Deal Terminates

Reiterate Desire to Engage Directly with the Board, Not in a Public Fight Commit to Completing Transaction on the Same Proposed Terms if Sale to Hope Terminates Urge Territorial Shareholders to Vote AGAINST Hope Sale Again at the Adjourned Special Meeting of Stockholders on November 6, 2024 HONOLULU , Oct. 17, 2024 /PRNewswire/ -- Former Hawaii banking executive Allan Landon, Blue Hill Advisors and other leading bank investors today reaffirmed their commitment to successfully completing a transaction with Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) and clarified their intent to stand by their offer if shareholders vote down the proposed sale to Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE) at the adjourned Special Meeting of Stockholders on November 6. Mr. Landon and the investors, which also include O'Brien-Staley Partners and veteran bank investor Mark Lynch, have favored a collaborative approach with Territorial's Board of Directors (the "Board").

Blue Hill Advisors and Investors Reaffirm Commitment to Territorial Transaction; Will Stand by Offer if Hope Deal Terminates

Territorial Bancorp Says Blue Hill Has Provided No Basis to Deem Its Preliminary Indication of Interest Superior

No Proof of Committed Financing and/or Information to Validate Its Claims that a Transaction Could Receive Regulatory Approval and Be Completed

Territorial Bancorp Says Blue Hill Has Provided No Basis to Deem Its Preliminary Indication of Interest Superior

Blue Hill Doubles Down on Cloak of Secrecy and Unanswered Questions

Blue Hill's Inability to Address Questions About How It Would Pay for or Complete an Acquisition Further Adds to Uncertainty, Risk and Doubt About Its Preliminary Indication of Interest

Blue Hill Doubles Down on Cloak of Secrecy and Unanswered Questions

Blue Hill Advisors and Investors Reiterate Superior Proposal for Territorial Bancorp and Refute Territorial's Assertions

Reaffirm Commitment to Superior $12.50 Per Share Cash Offer for Territorial Correct the Record on Board's Misleading Claims About the Hope Merger and Investor Proposal Call on Shareholders to Remain Opposed to Merger with Hope as Board Refuses to Engage Toward Better Offer Provide Updated Shareholder Presentation HONOLULU , Oct. 9, 2024 /PRNewswire/ -- Blue Hill Advisors and former Hawaii banking executive Allan Landon today reiterated their previously announced superior $12.50 per share cash offer for Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) and corrected the record on Territorial's numerous assertions regarding the proposed merger with Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE) and the investor proposal. They also provided an updated presentation urging Territorial shareholders to remain unreservedly opposed to the "merger" between Territorial and Hope, a transaction which carries the second lowest valuation of an announced bank merger since 1983 and came after Territorial shareholders bore a nearly 70% decrease in value over five years.

Blue Hill Advisors and Investors Reiterate Superior Proposal for Territorial Bancorp and Refute Territorial's Assertions

Territorial Bancorp Urges Shareholders to Vote FOR Hope Bancorp Merger

Compelling Combination with Hope Bancorp Creates Substantial Value for All Territorial Shareholders and Significant Benefits for Hawai‘i and Territorial Customers, Employees and Communities

Territorial Bancorp Urges Shareholders to Vote FOR Hope Bancorp Merger

Territorial Bancorp Postpones Special Meeting of Stockholders

Postponement Provides Additional Time for Territorial Board and Management to Engage with Territorial Stockholders Regarding Hope Bancorp Merger Postponement Provides Additional Time for Territorial Board and Management to Engage with Territorial Stockholders Regarding Hope Bancorp Merger

Territorial Bancorp Postpones Special Meeting of Stockholders

Blue Hill Advisors Announces ISS Recommendation AGAINST Territorial Bancorp Merger with Hope Bancorp

Concludes that Proposed Merger with Hope "Does Not Appear to Maximize Value for Shareholders" Competing Offer "Appears Sufficiently Credible to Mitigate the Downside Risk of Rejecting the Proposed Merger" Recommends Territorial Shareholders Vote Against All Proposals at the Upcoming Special Meeting HONOLULU , Oct. 1, 2024 /PRNewswire/ -- Blue Hill Advisors LLC ("Blue Hill") and former Hawaii banking executive Allan Landon today announced that Institutional Shareholder Services Inc. ("ISS"), a leading independent proxy advisory firm, has recommended that shareholders of Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) vote AGAINST the proposed merger between Territorial and Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE) at the Company's Special Meeting of Stockholders on October 10, 2024. In its report, ISS concludes that Hope's takeover of Territorial is not in the best interest of the Company's shareholders:1 "Given the lack of a robust sales process, the fact that the merger agreement restrictions accepted by the board limit its ability to engage with a competing bidder, and the improved outlook for financial institutions, the proposed merger with HOPE does not appear to maximize value for shareholders.

Blue Hill Advisors Announces ISS Recommendation AGAINST Territorial Bancorp Merger with Hope Bancorp

Territorial Bancorp Board Reaffirms Its Commitment to Proposed Merger with Hope Bancorp

Again Rejects Blue Hill Proposal as Remaining Highly Uncertain, Inferior to Hope Merger Agreement and Unlikely to Benefit Territorial Shareholders Again Rejects Blue Hill Proposal as Remaining Highly Uncertain, Inferior to Hope Merger Agreement and Unlikely to Benefit Territorial Shareholders

Territorial Bancorp Board Reaffirms Its Commitment to Proposed Merger with Hope Bancorp

Blue Hill Advisors Announces Increased Cash Offer for Territorial Bancorp

Raises Cash Offer from $12.00 to $12.50, a 27% Premium to the Value of the Hope Takeover Releases Presentation: "A Better Deal for Territorial" Launches www.NewTerritorial.com to Keep Stakeholders Informed of the Latest Developments HONOLULU , Sept. 26, 2024 /PRNewswire/ -- Blue Hill Advisors LLC ("Blue Hill") and former Hawaii banking executive Allan Landon today announced an increased cash offer for Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) from $12.00 per share to $12.50 per share.

Blue Hill Advisors Announces Increased Cash Offer for Territorial Bancorp

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