Two River Bancorp (TRCB) Cut to “Hold” at Zacks Investment Research
Two River Bancorp (NASDAQ:TRCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Two River Bancorp is a state-chartered commercial bank. It engaged in the business of commercial and retail banking. The company offers checking accounts, savings accounts, commercial loans, SBA lending, safe deposit boxes, night depository, wire transfers, money orders, traveler’s checks, automated teller machines, direct deposit, telephone and internet banking. Two River Bancorp, formerly known as Community Partners Bancorp, is headquartered in Tinton Falls, NJ. “
Shares of Two River Bancorp (TRCB) traded up 0.51% during mid-day trading on Wednesday, reaching $17.74. The company had a trading volume of 3,856 shares. The firm has a 50-day moving average of $17.98 and a 200-day moving average of $17.75. The company has a market capitalization of $148.79 million, a P/E ratio of 16.75 and a beta of 0.62. Two River Bancorp has a 12-month low of $10.30 and a 12-month high of $18.90.
Two River Bancorp (NASDAQ:TRCB) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Two River Bancorp had a net margin of 21.67% and a return on equity of 8.86%. The company had revenue of $9.50 million during the quarter, compared to the consensus estimate of $9.12 million. On average, equities analysts anticipate that Two River Bancorp will post $0.95 earnings per share for the current fiscal year.
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In related news, Director Andrew A. Vitale bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average price of $18.21 per share, for a total transaction of $36,420.00. Following the completion of the acquisition, the director now owns 19,391 shares of the company’s stock, valued at approximately $353,110.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.48% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in shares of Two River Bancorp during the 2nd quarter worth $238,000. State Street Corp purchased a new position in shares of Two River Bancorp during the 2nd quarter worth $1,292,000. OxFORD Asset Management LLP purchased a new position in shares of Two River Bancorp during the 2nd quarter worth $226,000. Dimensional Fund Advisors LP boosted its stake in shares of Two River Bancorp by 62.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,443 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 13,942 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Two River Bancorp by 32.0% during the 2nd quarter. Nordea Investment Management AB now owns 13,200 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 23.17% of the company’s stock.
Two River Bancorp Company Profile
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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