Zacks Investment Research cut shares of Two River Bancorp (NASDAQ:TRCB) from a buy rating to a hold rating in a research note published on Wednesday morning.

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 17.74 on Wednesday. The company has a market cap of $148.79 million, a P/E ratio of 16.75 and a beta of 0.62. The stock has a 50 day moving average price of $17.98 and a 200-day moving average price of $17.75. Two River Bancorp has a 1-year low of $10.30 and a 1-year high of $18.90.

Two River Bancorp (NASDAQ:TRCB) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The firm had revenue of $9.50 million for the quarter, compared to analyst estimates of $9.12 million. Two River Bancorp had a return on equity of 8.86% and a net margin of 21.67%. Analysts predict that Two River Bancorp will post $0.95 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Friday, August 11th were paid a $0.045 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Two River Bancorp’s previous quarterly dividend of $0.04. Two River Bancorp’s dividend payout ratio is 16.98%.

In related news, Director Andrew A. Vitale purchased 2,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $18.21 per share, with a total value of $36,420.00. Following the purchase, the director now directly owns 19,391 shares in the company, valued at approximately $353,110.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.48% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Two River Bancorp by 27.4% in the 2nd quarter. Vanguard Group Inc. now owns 147,306 shares of the financial services provider’s stock valued at $2,739,000 after purchasing an additional 31,683 shares during the period. Royce & Associates LP lifted its stake in shares of Two River Bancorp by 62.7% in the 2nd quarter. Royce & Associates LP now owns 122,000 shares of the financial services provider’s stock valued at $2,268,000 after purchasing an additional 47,000 shares during the period. Northern Trust Corp lifted its stake in shares of Two River Bancorp by 580.9% in the 2nd quarter. Northern Trust Corp now owns 76,053 shares of the financial services provider’s stock valued at $1,414,000 after purchasing an additional 64,883 shares during the period. State Street Corp acquired a new position in shares of Two River Bancorp in the 2nd quarter valued at $1,292,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Two River Bancorp by 2.5% in the 1st 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 purchasing an additional 1,438 shares during the period. 23.17% of the stock is currently owned by institutional investors.

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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