Territorial Bancorp
Market Cap
US$243.0m
Last Updated
2021/04/11 23:07 UTC
Data Sources
Company Financials +
Executive Summary
Territorial Bancorp Inc. operates as the holding company for Territorial Savings Bank that provides various financial services to individuals, families, and businesses in the State of Hawaii. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 10% per year for the next 3 years
Snowflake Analysis
Excellent balance sheet established dividend payer.
Share Price & News
How has Territorial Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TBNK is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: TBNK's weekly volatility (6%) has been stable over the past year.
Market Performance
7 Day Return
-1.0%
TBNK
-0.2%
US Mortgage
2.1%
US Market
1 Year Return
-3.0%
TBNK
52.8%
US Mortgage
56.3%
US Market
Return vs Industry: TBNK underperformed the US Mortgage industry which returned 52.8% over the past year.
Return vs Market: TBNK underperformed the US Market which returned 56.3% over the past year.
Shareholder returns
| TBNK | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.0% | -0.2% | 2.1% |
| 30 Day | -6.5% | -6.8% | 2.4% |
| 90 Day | 4.5% | 8.4% | 6.1% |
| 1 Year | 1.4%-3.0% | 57.4%52.8% | 59.1%56.3% |
| 3 Year | 1.8%-11.0% | 36.6%25.5% | 65.7%55.1% |
| 5 Year | 29.5%5.4% | 82.8%57.0% | 122.3%97.6% |
Long-Term Price Volatility Vs. Market
How volatile is Territorial Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Are Insiders Selling Territorial Bancorp Inc. (NASDAQ:TBNK) Stock?1 month ago | Simply Wall St
Is Territorial Bancorp Inc.'s (NASDAQ:TBNK) 3.9% Dividend Worth Your Time?2 months ago | Simply Wall St
Should You Buy Territorial Bancorp Inc. (NASDAQ:TBNK) For Its Upcoming Dividend?Valuation
Is Territorial Bancorp undervalued compared to its fair value and its price relative to the market?
1.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TBNK ($26.64) is trading above our estimate of fair value ($26.31)
Significantly Below Fair Value: TBNK is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: TBNK is good value based on its PE Ratio (13.1x) compared to the US Mortgage industry average (13.8x).
PE vs Market: TBNK is good value based on its PE Ratio (13.1x) compared to the US market (22.3x).
Price to Earnings Growth Ratio
PEG Ratio: TBNK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: TBNK's PB Ratio (1x) is in line with the US Mortgage industry average.
Future Growth
How is Territorial Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
-8.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TBNK's earnings are forecast to decline over the next 3 years (-10% per year).
Earnings vs Market: TBNK's earnings are forecast to decline over the next 3 years (-10% per year).
High Growth Earnings: TBNK's earnings are forecast to decline over the next 3 years.
Revenue vs Market: TBNK's revenue is expected to decline over the next 3 years (-2.6% per year).
High Growth Revenue: TBNK's revenue is forecast to decline over the next 3 years (-2.6% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TBNK's Return on Equity is forecast to be low in 3 years time (5.8%).
Past Performance
How has Territorial Bancorp performed over the past 5 years?
6.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TBNK has high quality earnings.
Growing Profit Margin: TBNK's current net profit margins (29.5%) are lower than last year (32.9%).
Past Earnings Growth Analysis
Earnings Trend: TBNK's earnings have grown by 6.6% per year over the past 5 years.
Accelerating Growth: TBNK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: TBNK had negative earnings growth (-15.1%) over the past year, making it difficult to compare to the Mortgage industry average (4.7%).
Return on Equity
High ROE: TBNK's Return on Equity (7.5%) is considered low.
Financial Health
How is Territorial Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: TBNK's Assets to Equity ratio (8.5x) is low.
Allowance for Bad Loans: TBNK has a low allowance for bad loans (97%).
Low Risk Liabilities: 89% of TBNK's liabilities are made up of primarily low risk sources of funding.
Loan Level: TBNK has an appropriate level of Loans to Assets ratio (67%).
Low Risk Deposits: TBNK's Loans to Deposits ratio (85%) is appropriate.
Level of Bad Loans: TBNK has an appropriate level of bad loans (0.3%).
Dividend
What is Territorial Bancorp current dividend yield, its reliability and sustainability?
3.83%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TBNK's dividend (3.83%) is higher than the bottom 25% of dividend payers in the US market (1.26%).
High Dividend: TBNK's dividend (3.83%) is in the top 25% of dividend payers in the US market (3.5%)
Stability and Growth of Payments
Stable Dividend: TBNK's dividend payments have been volatile in the past 10 years.
Growing Dividend: TBNK's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (45.4%), TBNK's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TBNK's dividends in 3 years are forecast to be covered by earnings (58.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
14.3yrs
Average management tenure
CEO
Allan Kitagawa (75 yo)
35.25yrs
Tenure
US$1,761,176
Compensation
Mr. Allan S. Kitagawa has been the Chairman of the Board and Chief Executive Officer of Territorial BanCorp Inc. and Territorial Savings Bank since 1986 and has been its President since 2007. Mr. Kitagawa ...
CEO Compensation Analysis
Compensation vs Market: Allan's total compensation ($USD1.76M) is above average for companies of similar size in the US market ($USD959.82K).
Compensation vs Earnings: Allan's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: TBNK's management team is seasoned and experienced (14.3 years average tenure).
Board Members
Experienced Board: TBNK's board of directors are seasoned and experienced ( 12.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Territorial Bancorp Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Territorial Bancorp Inc.
- Ticker: TBNK
- Exchange: NasdaqGS
- Founded: 1921
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Market Cap: US$243.021m
- Shares outstanding: 9.12m
- Website: https://www.territorialsavings.net
Number of Employees
Location
- Territorial Bancorp Inc.
- 1132 Bishop Street
- Suite 2200
- Honolulu
- Hawaii
- 96813
- United States
Listings
Biography
Territorial Bancorp Inc. operates as the holding company for Territorial Savings Bank that provides various financial services to individuals, families, and businesses in the State of Hawaii. The company o...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/11 23:07 |
| End of Day Share Price | 2021/04/09 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.