Two River Bancorp (NASDAQ:TRCB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $20.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.17% from the stock’s previous close.
According to Zacks, “Two River Bancorp is a state-chartered commercial bank. It engaged in the business of commercial and retail banking. The company offers checking accounts, savings accounts, commercial loans, SBA lending, safe deposit boxes, night depository, wire transfers, money orders, traveler’s checks, automated teller machines, direct deposit, telephone and internet banking. Two River Bancorp, formerly known as Community Partners Bancorp, is headquartered in Tinton Falls, NJ. “
Shares of Two River Bancorp (NASDAQ TRCB) opened at 18.32 on Wednesday. The company has a market cap of $153.65 million, a PE ratio of 17.30 and a beta of 0.61. Two River Bancorp has a 52 week low of $10.30 and a 52 week high of $18.90. The stock’s 50 day moving average price is $17.95 and its 200-day moving average price is $17.62.
Two River Bancorp (NASDAQ:TRCB) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Two River Bancorp had a return on equity of 8.86% and a net margin of 21.67%. The business had revenue of $9.50 million for the quarter, compared to the consensus estimate of $9.12 million. Analysts expect that Two River Bancorp will post $0.95 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This story was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://stocknewstimes.com/2017/08/25/zacks-investment-research-upgrades-two-river-bancorp-trcb-to-buy.html.
In other news, Director Andrew A. Vitale purchased 2,000 shares of the stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost of $18.21 per share, with a total value of $36,420.00. Following the acquisition, the director now directly owns 19,391 shares of the company’s stock, valued at $353,110.11. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.48% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in TRCB. Raymond James Financial Services Advisors Inc. boosted its position 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 valued at $1,056,000 after buying an additional 1,438 shares during the last quarter. Nordea Investment Management AB purchased a new position in Two River Bancorp during the first quarter valued at $177,000. Segantii Capital Management Ltd purchased a new position in Two River Bancorp during the first quarter valued at $173,000. Spark Investment Management LLC boosted its position 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 last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 last quarter. 17.47% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Two River Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Two River Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
