FIG Partners Comments on Two River Bancorp’s FY2018 Earnings (TRCB)
Two River Bancorp (NASDAQ:TRCB) – Equities researchers at FIG Partners upped their FY2018 earnings per share estimates for shares of Two River Bancorp in a research note issued on Wednesday. FIG Partners analyst D. Bishop now expects that the financial services provider will earn $1.26 per share for the year, up from their prior forecast of $1.12.
Two River Bancorp (NASDAQ:TRCB) last released its quarterly 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 during the quarter, compared to analyst estimates of $9.62 million. Two River Bancorp had a return on equity of 8.29% and a net margin of 20.45%.
Two River Bancorp (NASDAQ TRCB) opened at $18.13 on Friday. The company has a market capitalization of $151.89, a P/E ratio of 18.03 and a beta of 0.60. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.38. Two River Bancorp has a 52-week low of $14.25 and a 52-week high of $20.75.
Two River Bancorp announced that its board has authorized a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase $2.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Robert E. Gregory sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $19.49, for a total value of $194,900.00. Following the sale, the director now owns 181,035 shares in the company, valued at approximately $3,528,372.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.48% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in shares of 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 worth $203,000 after buying an additional 546 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Two River Bancorp by 32.0% in the 2nd quarter. Nordea Investment Management AB now owns 13,200 shares of the financial services provider’s stock worth $245,000 after buying an additional 3,200 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Two River Bancorp in the 2nd quarter worth approximately $143,000. OxFORD Asset Management LLP purchased a new stake in shares of Two River Bancorp in the 2nd quarter worth approximately $226,000. Finally, Teachers Advisors LLC purchased a new stake in shares of Two River Bancorp in the 2nd quarter worth approximately $237,000. Institutional investors own 23.27% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/12/31/fig-partners-comments-on-two-river-bancorps-fy2018-earnings-trcb.html.
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.
Receive News & Ratings for Two River Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Two River Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.