Zacks: Two Rivers Bancorp (TRCB) Given $23.00 Consensus Target Price by Brokerages

Shares of Two Rivers Bancorp (NASDAQ:TRCB) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a one year consensus price target of $23.00 for the company and are predicting that the company will post $0.30 earnings per share for the current quarter, according to Zacks. Zacks has also given Two Rivers Bancorp an industry rank of 14 out of 265 based on the ratings given to related companies.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Two Rivers Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Saturday, October 28th. ValuEngine cut shares of Two Rivers Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, FIG Partners restated an “outperform” rating on shares of Two Rivers Bancorp in a report on Wednesday, January 31st.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in Two Rivers Bancorp by 16.2% in the fourth quarter. Acadian Asset Management LLC now owns 21,699 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 3,026 shares during the period. Bank of New York Mellon Corp raised its position in Two Rivers Bancorp by 16.9% in the fourth quarter. Bank of New York Mellon Corp now owns 28,108 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 4,064 shares during the period. BlackRock Inc. raised its position in Two Rivers Bancorp by 1.5% in the fourth quarter. BlackRock Inc. now owns 340,964 shares of the financial services provider’s stock worth $6,183,000 after acquiring an additional 4,918 shares during the period. Wells Fargo & Company MN raised its position in Two Rivers Bancorp by 117.4% in the fourth quarter. Wells Fargo & Company MN now owns 10,413 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 5,624 shares during the period. Finally, New York State Common Retirement Fund bought a new position in Two Rivers Bancorp in the second quarter worth approximately $143,000. Institutional investors and hedge funds own 21.99% of the company’s stock.

Shares of Two Rivers Bancorp (NASDAQ:TRCB) traded down $0.29 during mid-day trading on Monday, reaching $16.88. 30,423 shares of the company traded hands, compared to its average volume of 10,697. Two Rivers Bancorp has a 52 week low of $15.71 and a 52 week high of $20.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $145.43, a PE ratio of 22.21 and a beta of 0.49.

Two Rivers Bancorp (NASDAQ:TRCB) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). Two Rivers Bancorp had a return on equity of 7.79% and a net margin of 14.88%. The company had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $9.71 million. analysts predict that Two Rivers Bancorp will post 1.27 EPS for the current year.

Two Rivers Bancorp declared that its board has authorized a stock buyback program on Thursday, December 14th that allows the company to repurchase $2.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 7th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, February 6th. Two Rivers Bancorp’s dividend payout ratio is currently 23.68%.

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About Two Rivers 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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