Two River Bancorp (NASDAQ:TRCB) Shares Sold by Alliancebernstein L.P.
Alliancebernstein L.P. cut its stake in shares of Two River Bancorp (NASDAQ:TRCB) by 81.1% during the first quarter, Holdings Channel reports. The firm owned 20,532 shares of the financial services provider’s stock after selling 87,940 shares during the period. Alliancebernstein L.P.’s holdings in Two River Bancorp were worth $363,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new stake in shares of Two River Bancorp during the first quarter valued at $177,000. Bank of New York Mellon Corp raised 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 valued at $665,000 after buying an additional 6,446 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of 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 during the period. Finally, HPM Partners LLC purchased a new stake in shares of Two River Bancorp during the first quarter valued at $1,522,000. Institutional investors and hedge funds own 17.54% of the company’s stock.
Shares of Two River Bancorp (NASDAQ TRCB) traded down 0.91% during mid-day trading on Friday, hitting $17.36. The stock had a trading volume of 22,988 shares. Two River Bancorp has a 12-month low of $10.30 and a 12-month high of $18.90. The firm’s 50-day moving average price is $18.09 and its 200 day moving average price is $17.43. The stock has a market cap of $145.32 million, a price-to-earnings ratio of 16.39 and a beta of 0.61.
Two River Bancorp (NASDAQ:TRCB) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. Two River Bancorp had a return on equity of 8.95% and a net margin of 21.67%. The firm had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $9.12 million. Equities analysts forecast that Two River Bancorp will post $0.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Friday, August 11th will be paid a $0.045 dividend. This is a boost from Two River Bancorp’s previous quarterly dividend of $0.04. This represents a $0.18 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 9th. Two River Bancorp’s dividend payout ratio (DPR) is 16.98%.
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Separately, Zacks Investment Research lowered Two River Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 19th.
In other news, Director Andrew A. Vitale bought 2,000 shares of the stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $18.21 per share, with a total value of $36,420.00. Following the purchase, the director now 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 accessible through this link. 16.48% of the stock is currently owned by company insiders.
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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