Royce & Associates LP grew its holdings in shares of Two River Bancorp (NASDAQ:TRCB) by 62.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,000 shares of the financial services provider’s stock after buying an additional 47,000 shares during the quarter. Royce & Associates LP owned 1.46% of Two River Bancorp worth $2,268,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRCB. Bank of New York Mellon Corp grew its stake in 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 buying an additional 6,446 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Two River Bancorp by 2.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 59,757 shares of the financial services provider’s stock worth $1,056,000 after buying an additional 1,438 shares during the period. Nordea Investment Management AB purchased a new stake in Two River Bancorp during the first quarter worth approximately $177,000. Spark Investment Management LLC grew its stake in Two River Bancorp by 5.0% during the first quarter. Spark Investment Management LLC now owns 10,500 shares of the financial services provider’s stock worth $185,000 after buying an additional 500 shares during the period. Finally, ClariVest Asset Management LLC purchased a new stake in Two River Bancorp during the first quarter worth approximately $325,000. Institutional investors own 23.17% of the company’s stock.
Shares of Two River Bancorp (NASDAQ:TRCB) opened at 18.21 on Wednesday. The firm’s 50-day moving average is $18.00 and its 200 day moving average is $17.76. Two River Bancorp has a 1-year low of $10.81 and a 1-year high of $18.90. The stock has a market capitalization of $152.73 million, a P/E ratio of 17.20 and a beta of 0.62.
Two River Bancorp (NASDAQ:TRCB) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $9.50 million for 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%. On average, analysts expect that Two River Bancorp will post $0.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Friday, August 11th were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, August 9th. This is a positive change from Two River Bancorp’s previous quarterly dividend of $0.04. Two River Bancorp’s dividend payout ratio (DPR) is presently 16.98%.
In other Two River Bancorp news, Director Andrew A. Vitale acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average price of $18.21 per share, with a total value of $36,420.00. Following the completion of the transaction, the director now owns 19,391 shares in the company, valued at $353,110.11. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 16.48% of the stock is currently owned by company insiders.
Separately, Zacks Investment Research upgraded shares of Two River Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, August 29th.
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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