Alliancebernstein L.P. reduced its position in shares of Two River Bancorp (NASDAQ:TRCB) by 81.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,532 shares of the financial services provider’s stock after selling 87,940 shares during the period. Alliancebernstein L.P. owned 0.24% of Two River Bancorp worth $363,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB acquired a new stake in Two River Bancorp during the first quarter worth approximately $177,000. Bank of New York Mellon Corp increased 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 worth $665,000 after buying 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 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. Finally, HPM Partners LLC acquired a new stake in Two River Bancorp during the first quarter worth approximately $1,522,000. 17.54% of the stock is owned by institutional investors.
Two River Bancorp (TRCB) traded down 0.91% on Friday, hitting $17.36. The stock had a trading volume of 22,988 shares. The stock has a 50-day moving average of $18.09 and a 200-day moving average of $17.43. The company has a market cap of $145.32 million, a PE ratio of 16.39 and a beta of 0.61. Two River Bancorp has a one year low of $10.30 and a one year high of $18.90.
Two River Bancorp (NASDAQ:TRCB) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Two River Bancorp had a return on equity of 8.95% and a net margin of 21.67%. The company had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $9.12 million. Equities analysts expect that Two River Bancorp will post $0.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Friday, August 11th will be paid a $0.045 dividend. This is a boost from Two River Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.18 annualized dividend and a dividend yield of 1.04%. Two River Bancorp’s dividend payout ratio is presently 16.98%.
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Separately, Zacks Investment Research downgraded Two River Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 19th.
In other Two River Bancorp news, Director Andrew A. Vitale purchased 2,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was bought at an average price 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 approximately $353,110.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 16.48% of the company’s stock.
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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