Two River Bancorp (TRCB) Downgraded by Zacks Investment Research
Two River Bancorp (NASDAQ:TRCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
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. “
Two River Bancorp (NASDAQ:TRCB) opened at 18.37 on Friday. The firm has a market capitalization of $154.07 million, a P/E ratio of 17.35 and a beta of 0.62. Two River Bancorp has a 52 week low of $10.81 and a 52 week high of $18.90. The firm has a 50-day moving average price of $18.00 and a 200-day moving average price of $17.78.
Two River Bancorp (NASDAQ:TRCB) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company 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 8.86%. Equities analysts forecast that Two River Bancorp will post $0.95 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Two River Bancorp (TRCB) Downgraded by Zacks Investment Research” was reported by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/09/16/two-river-bancorp-trcb-downgraded-by-zacks-investment-research.html.
In other Two River Bancorp news, Director Andrew A. Vitale acquired 2,000 shares of Two River Bancorp stock in a transaction on Monday, July 31st. The shares were purchased 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 owns 19,391 shares in the company, valued at $353,110.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.48% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TRCB. Bank of New York Mellon Corp raised its holdings in shares of Two River Bancorp by 20.7% during the first quarter. Bank of New York Mellon Corp now owns 37,619 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 6,446 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Two River Bancorp by 2.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 59,757 shares of the financial services provider’s stock valued at $1,056,000 after buying an additional 1,438 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Two River Bancorp in the 1st quarter valued at $177,000. Spark Investment Management LLC increased its stake in Two River Bancorp by 5.0% in the 1st quarter. Spark Investment Management LLC now owns 10,500 shares of the financial services provider’s stock valued at $185,000 after buying an additional 500 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in Two River Bancorp in the 1st quarter valued at $325,000. Institutional investors own 23.17% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Two River Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Two River Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.