Territorial Bancorp price target raised to $11.27 from $9.66 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Territorial Bancorp (TBNK) to $11.27 from $9.66 and keeps a Market Perform rating on the shares. While “higher for longer” rates has continued to weigh on Territorial’s profitability, with the company reporting another operating loss in Q2, the proposed merger with Hope Bancorp (HOPE) provides the bank the ability to better navigate different environments and serve their customers through cycles, the analyst tells investors in a research note.