TIAA CREF Investment Management LLC Buys New Holdings in Two River Bancorp (TRCB)

TIAA CREF Investment Management LLC bought a new position in shares of Two River Bancorp (NASDAQ:TRCB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,282 shares of the financial services provider’s stock, valued at approximately $358,000. TIAA CREF Investment Management LLC owned about 0.23% of Two River Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Royce & Associates LP lifted its position in shares of Two River Bancorp by 62.7% in the 2nd quarter. Royce & Associates LP now owns 122,000 shares of the financial services provider’s stock worth $2,268,000 after purchasing an additional 47,000 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Two River Bancorp by 20.7% in the 1st quarter. Bank of New York Mellon Corp now owns 37,619 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 6,446 shares during the period. ClariVest Asset Management LLC lifted its position in shares of Two River Bancorp by 17.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 21,577 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 3,200 shares during the period. Spark Investment Management LLC lifted its position in shares of Two River Bancorp by 55.2% in the 2nd quarter. Spark Investment Management LLC now owns 16,300 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 5,800 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Two River Bancorp in the 1st quarter worth approximately $265,000. 22.85% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Robert E. Gregory sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $19.49, for a total value of $194,900.00. Following the transaction, the director now owns 181,035 shares in the company, valued at approximately $3,528,372.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.48% of the stock is currently owned by insiders.

Separately, Zacks Investment Research downgraded shares of Two River Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 16th.

Two River Bancorp (NASDAQ TRCB) opened at $18.40 on Wednesday. The stock has a market cap of $155.18, a P/E ratio of 18.62 and a beta of 0.65. Two River Bancorp has a 1 year low of $12.83 and a 1 year high of $20.75. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.01.

Two River Bancorp (NASDAQ:TRCB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. The firm had revenue of $9.87 million for the quarter, compared to the consensus estimate of $9.62 million. Two River Bancorp had a net margin of 20.45% and a return on equity of 8.29%. equities research analysts forecast that Two River Bancorp will post 0.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 8th will be given a $0.045 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.98%. Two River Bancorp’s dividend payout ratio (DPR) is currently 17.90%.

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About Two River Bancorp

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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Institutional Ownership by Quarter for Two River Bancorp (NASDAQ:TRCB)

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