12,900 Shares in Two River Bancorp (TRCB) Acquired by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. bought a new stake in Two River Bancorp (NASDAQ:TRCB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,900 shares of the financial services provider’s stock, valued at approximately $240,000. Schwab Charles Investment Management Inc. owned 0.15% of Two River Bancorp as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Spark Investment Management LLC lifted 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 worth $303,000 after buying an additional 5,800 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Two River Bancorp in the first quarter worth about $265,000. Bank of America Corp DE lifted its stake in shares of Two River Bancorp by 5.0% in the first quarter. Bank of America Corp DE now owns 11,479 shares of the financial services provider’s stock worth $203,000 after buying an additional 546 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 worth $665,000 after buying an additional 6,446 shares in the last quarter. Institutional investors and hedge funds own 23.02% of the company’s stock.
In other Two River Bancorp news, Director Robert E. Gregory sold 10,000 shares of Two River Bancorp stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $19.49, for a total transaction of $194,900.00. Following the transaction, the director now directly owns 181,035 shares of the company’s stock, valued at $3,528,372.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.48% of the stock is owned by insiders.
Two River Bancorp (NASDAQ TRCB) opened at $18.17 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market cap of $152.01, a PE ratio of 18.24 and a beta of 0.65. Two River Bancorp has a 52 week low of $11.76 and a 52 week high of $20.75.
Two River Bancorp (NASDAQ:TRCB) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Two River Bancorp had a net margin of 20.45% and a return on equity of 8.38%. The company had revenue of $9.87 million for the quarter, compared to the consensus estimate of $9.62 million. research analysts anticipate that Two River Bancorp will post 0.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, November 7th. Two River Bancorp’s dividend payout ratio (DPR) is presently 17.90%.
Separately, Zacks Investment Research raised shares of Two River Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Saturday, October 28th.
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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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