Two River Bancorp (NASDAQ:TRCB) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price objective of $23.00 for the company and are forecasting that the company will post $0.26 earnings per share for the current quarter, according to Zacks. Zacks has also given Two River Bancorp an industry rank of 114 out of 265 based on the ratings given to its competitors.
Several equities analysts recently issued reports on the stock. ValuEngine cut shares of Two River Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of Two River Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Saturday, October 28th.
Two River Bancorp (NASDAQ:TRCB) remained flat at $$18.48 on Wednesday. 18,583 shares of the company’s stock traded hands, compared to its average volume of 20,844. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.01 and a current ratio of 1.01. Two River Bancorp has a 1 year low of $14.25 and a 1 year high of $20.75. The stock has a market capitalization of $157.21, a price-to-earnings ratio of 18.86 and a beta of 0.60.
Two River Bancorp (NASDAQ:TRCB) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating 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 8.29%. The firm had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $9.62 million. sell-side analysts forecast that Two River Bancorp will post 0.97 earnings per share for the current year.
Two River Bancorp declared that its board has initiated a stock repurchase plan on Thursday, December 14th that permits the company to repurchase $2.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Wednesday, November 8th were paid a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, November 7th. Two River Bancorp’s dividend payout ratio is currently 17.90%.
In other Two River Bancorp news, Director Robert E. Gregory sold 10,000 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $19.49, for a total transaction of $194,900.00. Following the completion of the transaction, the director now directly owns 181,035 shares in the company, valued at $3,528,372.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.48% of the company’s stock.
Large investors have recently bought and sold shares of the business. New York State Common Retirement Fund acquired a new position in Two River Bancorp during the second quarter worth $143,000. Bank of America Corp DE raised its position in Two River Bancorp by 5.0% during the first quarter. Bank of America Corp DE now owns 11,479 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 546 shares during the period. OxFORD Asset Management LLP acquired a new position in Two River Bancorp during the second quarter worth $226,000. Teachers Advisors LLC acquired a new position in Two River Bancorp during the second quarter worth $237,000. Finally, California State Teachers Retirement System acquired a new position in Two River Bancorp during the second quarter worth $238,000. Institutional investors own 23.27% of the company’s stock.
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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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