TBNK - Loan Mix Keeps Territorial Bancorp's Risk Relatively Low
Earnings of Territorial Bancorp Inc. (NASDAQ: TBNK) dipped to $0.48 per share in the first quarter of 2020, down 11% from the last quarter of 2019. A surge in provision expense was the major cause of the earnings decline. Earnings will likely remain low in the remainder of the year due to high provision expense and a slight decline in loan balances. Overall, I’m expecting earnings to decline by 18% year-over-year to $1.91 per share in 2020.
TBNK is currently trading at a substantial discount to its year-end target price as the market appears