Zacks Investment Research Downgrades Two River Bancorp (TRCB) to Hold

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

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 18.85 on Friday. Two River Bancorp has a 12-month low of $10.81 and a 12-month high of $18.98. The stock’s 50 day moving average price is $18.02 and its 200-day moving average price is $17.81. The firm has a market cap of $158.09 million, a P/E ratio of 17.80 and a beta of 0.62.

Two River Bancorp (NASDAQ:TRCB) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $9.12 million. On average, analysts predict that Two River Bancorp will post $0.95 earnings per share for the current fiscal year.

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In other news, Director Andrew A. Vitale purchased 2,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 19,391 shares of the company’s stock, valued at $353,110.11. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 16.48% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Spark Investment Management LLC lifted its holdings in Two River Bancorp by 5.0% during the 1st quarter. Spark Investment Management LLC now owns 10,500 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 500 shares in the last quarter. Bank of America Corp DE lifted its holdings in Two River Bancorp by 5.0% during the 1st quarter. Bank of America Corp DE now owns 11,479 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 546 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Two River Bancorp by 2.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 59,757 shares of the financial services provider’s stock worth $1,056,000 after purchasing an additional 1,438 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in Two River Bancorp by 17.4% during the 2nd quarter. ClariVest Asset Management LLC now owns 21,577 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Two River Bancorp by 32.0% during the 2nd quarter. Nordea Investment Management AB now owns 13,200 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 3,200 shares in the last quarter. 23.17% of the stock is currently owned by institutional investors and hedge funds.

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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