FIG Partners Research Analysts Cut Earnings Estimates for Two River Bancorp (TRCB)
Two River Bancorp (NASDAQ:TRCB) – Research analysts at FIG Partners dropped their Q3 2018 EPS estimates for Two River Bancorp in a research note issued to investors on Wednesday. FIG Partners analyst D. Bishop now anticipates that the financial services provider will post earnings of $0.28 per share for the quarter, down from their prior forecast of $0.29.
Separately, Zacks Investment Research lowered Two River Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, September 16th.
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Shares of Two River Bancorp (NASDAQ:TRCB) opened at 20.58 on Monday. The firm has a 50-day moving average of $19.26 and a 200 day moving average of $18.19. The company has a market capitalization of $172.60 million, a PE ratio of 19.43 and a beta of 0.64. Two River Bancorp has a 12 month low of $11.16 and a 12 month high of $20.75.
Two River Bancorp (NASDAQ:TRCB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Two River Bancorp had a net margin of 20.45% and a return on equity of 8.38%. The firm had revenue of $9.87 million for the quarter, compared to analysts’ expectations of $9.62 million.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 8th will be paid a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, November 7th. Two River Bancorp’s payout ratio is 17.90%.
In other Two River Bancorp news, Director Robert E. Gregory sold 10,000 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $19.49, for a total value of $194,900.00. Following the transaction, the director now owns 181,035 shares of the company’s stock, valued at $3,528,372.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.48% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TRCB. Bank of New York Mellon Corp lifted its stake in Two River Bancorp by 20.7% in the first quarter. Bank of New York Mellon Corp now owns 37,619 shares of the financial services provider’s stock valued at $665,000 after buying an additional 6,446 shares during the period. Bank of America Corp DE lifted 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 valued at $203,000 after buying an additional 546 shares during the period. Goldman Sachs Group Inc. acquired a new position in Two River Bancorp in the first quarter valued at about $265,000. Spark Investment Management LLC lifted its stake in Two River Bancorp by 55.2% in the second quarter. Spark Investment Management LLC now owns 16,300 shares of the financial services provider’s stock valued at $303,000 after buying an additional 5,800 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new position in Two River Bancorp in the second quarter valued at about $240,000. 23.08% of the stock is currently owned by hedge funds and other institutional investors.
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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