Mercer Capital Advisers Inc. Continues to Hold Stake in Two River Bancorp (NASDAQ:TRCB)
Mercer Capital Advisers Inc. maintained its position in shares of Two River Bancorp (NASDAQ:TRCB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,933 shares of the financial services provider’s stock at the end of the second quarter. Two River Bancorp accounts for 0.8% of Mercer Capital Advisers Inc.’s holdings, making the stock its 27th largest position. Mercer Capital Advisers Inc.’s holdings in Two River Bancorp were worth $1,021,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Segantii Capital Management Ltd purchased a new position in shares of Two River Bancorp during the first quarter valued at approximately $173,000. Nordea Investment Management AB purchased a new position in shares of Two River Bancorp during the first quarter valued at approximately $177,000. Spark Investment Management LLC increased its position in shares of Two River Bancorp by 5.0% in the first quarter. Spark Investment Management LLC now owns 10,500 shares of the financial services provider’s stock valued at $185,000 after buying an additional 500 shares in the last quarter. Bank of America Corp DE increased its position 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 valued at $203,000 after buying an additional 546 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Two River Bancorp during the first quarter valued at approximately $265,000. Institutional investors and hedge funds own 17.51% of the company’s stock.
Two River Bancorp (NASDAQ TRCB) opened at 18.17 on Friday. The stock’s 50 day moving average is $18.02 and its 200 day moving average is $17.28. The firm has a market capitalization of $152.10 million, a P/E ratio of 17.16 and a beta of 0.61. Two River Bancorp has a one year low of $10.30 and a one year high of $18.90.
Two River Bancorp (NASDAQ:TRCB) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $9.12 million. Two River Bancorp had a net margin of 21.67% and a return on equity of 8.95%. On average, equities research analysts predict that Two River Bancorp will post $0.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Friday, August 11th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.18 annualized dividend and a dividend yield of 0.99%. This is a boost from Two River Bancorp’s previous quarterly dividend of $0.04. Two River Bancorp’s dividend payout ratio (DPR) is 15.09%.
Separately, Zacks Investment Research upgraded shares of Two River Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 28th.
In related news, Director Andrew A. Vitale acquired 2,000 shares of the stock in a transaction dated Monday, July 31st. The shares were purchased at an average price of $18.21 per share, for a total transaction of $36,420.00. Following the transaction, the director now owns 19,391 shares in the company, valued at approximately $353,110.11. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.48% of the company’s stock.
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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