Two River Bancorp (NASDAQ:TRCB) issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02, Bloomberg Earnings reports. The business had revenue of $9.50 million during the quarter, compared to analyst estimates of $9.12 million. Two River Bancorp had a net margin of 21.67% and a return on equity of 8.95%.
Shares of Two River Bancorp (NASDAQ:TRCB) traded down 0.91% on Friday, hitting $17.36. 22,988 shares of the company traded hands. Two River Bancorp has a 1-year low of $10.30 and a 1-year high of $18.90. The firm’s 50-day moving average is $18.09 and its 200 day moving average is $17.49. The firm has a market capitalization of $145.32 million, a P/E ratio of 16.39 and a beta of 0.61.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Friday, August 11th will be paid a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 1.04%. This is a positive change from Two River Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, August 9th. Two River Bancorp’s dividend payout ratio (DPR) is presently 16.98%.
In other Two River Bancorp news, Director Andrew A. Vitale acquired 2,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average cost of $18.21 per share, with a total value of $36,420.00. Following the completion of the purchase, the director now directly owns 19,391 shares in the company, valued at $353,110.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.48% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new stake in Two River Bancorp during the second quarter worth $143,000. Segantii Capital Management Ltd acquired a new stake in Two River Bancorp during the first quarter worth $173,000. Nordea Investment Management AB acquired a new stake in Two River Bancorp during the first quarter worth $177,000. Spark Investment Management LLC raised its stake in Two River Bancorp by 5.0% in the first quarter. Spark Investment Management LLC now owns 10,500 shares of the financial services provider’s stock worth $185,000 after buying an additional 500 shares during the period. Finally, Bank of America Corp DE raised its stake in Two River Bancorp by 5.0% in the first quarter. Bank of America Corp DE now owns 11,479 shares of the financial services provider’s stock worth $203,000 after buying an additional 546 shares during the period. 17.54% of the stock is owned by institutional investors.
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Separately, Zacks Investment Research upgraded shares of Two River Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, July 28th.
About Two River Bancorp
Two River Bancorp is the holding company for Two River Community Bank (the Bank). The Company acts as an independent community financial services provider. The Company’s segment is community banking operations. The Bank is a state-chartered commercial bank. The Bank offers a range of banking services, including demand, savings and time deposits, and commercial loans, residential loans and consumer/installment loans to small and medium-sized businesses, not-for-profit organizations, professionals and individuals primarily in Monmouth, Middlesex and Union Counties, New Jersey.
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