Two River Bancorp (TRCB) Downgraded by Zacks Investment Research

Two River Bancorp (NASDAQ:TRCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

Separately, ValuEngine cut shares of Two River Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 7th.

Two River Bancorp (NASDAQ TRCB) opened at $18.03 on Wednesday. The company has a market cap of $152.48, a price-to-earnings ratio of 18.98 and a beta of 0.63. Two River Bancorp has a 1-year low of $14.25 and a 1-year high of $20.75. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.01.

Two River Bancorp (NASDAQ:TRCB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $9.87 million for the quarter, compared to analysts’ expectations of $9.62 million. Two River Bancorp had a net margin of 20.45% and a return on equity of 8.29%. analysts predict that Two River Bancorp will post 0.97 earnings per share for the current fiscal year.

Two River Bancorp declared that its Board of Directors has approved a share repurchase plan 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. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director Robert E. Gregory sold 10,000 shares of Two River Bancorp stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $19.49, for a total value of $194,900.00. Following the transaction, the director now directly owns 181,035 shares of the company’s stock, valued at approximately $3,528,372.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.48% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund acquired a new position in Two River Bancorp in the 2nd quarter valued at $143,000. Bank of America Corp DE increased its stake in Two River Bancorp by 5.0% in the 1st quarter. Bank of America Corp DE now owns 11,479 shares of the financial services provider’s stock valued at $203,000 after buying an additional 546 shares during the period. OxFORD Asset Management LLP acquired a new position in Two River Bancorp in the 2nd quarter valued at $226,000. Teachers Advisors LLC acquired a new position in Two River Bancorp in the 2nd quarter valued at $237,000. Finally, California State Teachers Retirement System acquired a new position in Two River Bancorp in the 2nd quarter valued at $238,000. 23.27% of the stock is currently owned by institutional investors.

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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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