Two River Bancorp (TRCB) Position Maintained by First Manhattan Co.
First Manhattan Co. continued to hold its position in shares of Two River Bancorp (NASDAQ:TRCB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,056 shares of the financial services provider’s stock at the end of the second quarter. First Manhattan Co. owned approximately 0.34% of Two River Bancorp worth $521,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted 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 valued at $1,056,000 after buying an additional 1,438 shares in the last quarter. Nordea Investment Management AB bought a new stake in Two River Bancorp during the first quarter valued at approximately $177,000. Bank of New York Mellon Corp boosted 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 valued at $665,000 after buying an additional 6,446 shares in the last quarter. Segantii Capital Management Ltd acquired a new stake in shares of Two River Bancorp during the first quarter valued at about $173,000. Finally, Spark Investment Management LLC raised its stake in shares of 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. 17.47% of the stock is currently owned by institutional investors.
Two River Bancorp (TRCB) traded up 0.17% during mid-day trading on Friday, reaching $17.36. 15,641 shares of the company’s stock were exchanged. The company has a 50-day moving average of $17.97 and a 200-day moving average of $17.56. The stock has a market cap of $145.60 million, a price-to-earnings ratio of 16.39 and a beta of 0.61. Two River Bancorp has a 52-week low of $10.81 and a 52-week high of $18.90.
Two River Bancorp (NASDAQ:TRCB) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $9.50 million during the quarter, compared to the consensus estimate of $9.12 million. Two River Bancorp had a return on equity of 8.86% and a net margin of 21.67%. Equities research analysts anticipate that Two River Bancorp will post $0.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Friday, August 11th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 9th. This is an increase from Two River Bancorp’s previous quarterly dividend of $0.04. Two River Bancorp’s dividend payout ratio (DPR) is currently 16.98%.
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Separately, Zacks Investment Research upgraded shares of Two River Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Friday, July 28th.
In other Two River Bancorp news, Director Andrew A. Vitale purchased 2,000 shares of the stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $18.21 per share, with a total value of $36,420.00. Following the completion of the acquisition, the director now owns 19,391 shares in the company, valued at $353,110.11. The acquisition was disclosed in a filing with the SEC, which is available at this link. 16.48% of the stock is currently owned by company insiders.
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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