Two Rivers Bancorp (TRCB) Stock Rating Reaffirmed by Boenning Scattergood
“We attribute the underperformance to a combination of factors including New Jersey corporate tax code revision and below-peer growth and profitability. Looking beyond these issues, we are complimentary of Two River’s 1) steady and lower-risk growth strategy, 2) relationship-focused, community banking model, and 3) strong management team. We believe the risk/reward profile is evenly balanced today with shares trading in-line with peers relative to both P/E (11.5x 2019E vs. 11.4x peers) and P/TBV (1.4x vs. 1.4x peers). Thus, we are introducing a Neutral rating for shares of TRCB.”,” Boenning Scattergood’s analyst wrote.
TRCB has been the topic of a number of other reports. ValuEngine cut shares of Two Rivers Bancorp from a sell rating to a strong sell rating in a report on Tuesday, November 6th. Zacks Investment Research cut shares of Two Rivers Bancorp from a hold rating to a sell rating in a report on Saturday, October 27th.
Two Rivers Bancorp (NASDAQ:TRCB) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $10.50 million. Two Rivers Bancorp had a net margin of 17.59% and a return on equity of 9.45%. As a group, equities research analysts anticipate that Two Rivers Bancorp will post 1.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.46%. Two Rivers Bancorp’s dividend payout ratio (DPR) is 23.40%.
In other Two Rivers Bancorp news, CEO William D. Moss bought 2,000 shares of the company’s stock in a transaction on Thursday, October 25th. The shares were bought at an average cost of $15.95 per share, with a total value of $31,900.00. Following the completion of the acquisition, the chief executive officer now owns 13,122 shares of the company’s stock, valued at $209,295.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 6,600 shares of company stock worth $106,242 over the last three months. 16.51% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in shares of Two Rivers Bancorp in the 3rd quarter worth about $158,000. Alliancebernstein L.P. acquired a new stake in shares of Two Rivers Bancorp in the 3rd quarter worth about $331,000. LMR Partners LLP acquired a new stake in shares of Two Rivers Bancorp in the 2nd quarter worth about $380,000. Acadian Asset Management LLC increased its holdings in shares of Two Rivers Bancorp by 54.1% in the 2nd quarter. Acadian Asset Management LLC now owns 24,832 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 8,719 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Two Rivers Bancorp by 32.8% in the 2nd quarter. Bank of America Corp DE now owns 25,052 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 6,185 shares during the period. 22.54% of the stock is currently owned by institutional investors.
Two Rivers Bancorp Company Profile
Two River Bancorp operates as the bank holding company for Two River Community Bank that provides a range of banking services to small and medium-sized businesses, not-for-profit organizations, professionals, and individuals. The company offers deposit products, including checking, savings, and money market accounts, as well as certificates of deposit.
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