ClariVest Asset Management LLC decreased its holdings in shares of Two River Bancorp (NASDAQ:TRCB) by 59.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,715 shares of the financial services provider’s stock after selling 12,862 shares during the period. ClariVest Asset Management LLC owned approximately 0.10% of Two River Bancorp worth $173,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in TRCB. Bank of New York Mellon Corp boosted its stake in shares of Two River Bancorp by 20.7% during the first quarter. Bank of New York Mellon Corp now owns 37,619 shares of the financial services provider’s stock worth $665,000 after buying an additional 6,446 shares during the period. Bank of America Corp DE boosted its stake in shares of Two River Bancorp by 5.0% during the first 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 period. Goldman Sachs Group Inc. acquired a new stake in shares of Two River Bancorp during the first quarter worth about $265,000. Spark Investment Management LLC boosted its stake in shares of Two River Bancorp by 55.2% during the second quarter. Spark Investment Management LLC now owns 16,300 shares of the financial services provider’s stock worth $303,000 after buying an additional 5,800 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Two River Bancorp during the second quarter worth about $240,000. Institutional investors and hedge funds own 22.85% of the company’s stock.
In related news, Director Robert E. Gregory sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $19.49, for a total value of $194,900.00. Following the completion of the sale, the director now owns 181,035 shares in the company, valued at $3,528,372.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 16.48% of the stock is currently owned by corporate insiders.
Shares of Two River Bancorp (NASDAQ:TRCB) opened at $18.00 on Thursday. Two River Bancorp has a 12 month low of $12.83 and a 12 month high of $20.75. The firm has a market cap of $155.61, a PE ratio of 18.67 and a beta of 0.65. 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 (NASDAQ:TRCB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Two River Bancorp had a net margin of 20.45% and a return on equity of 8.29%. The business had revenue of $9.87 million during the quarter, compared to the consensus estimate of $9.62 million. research analysts expect that Two River Bancorp will post 0.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 8th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.18 annualized dividend and a dividend yield of 1.00%. Two River Bancorp’s dividend payout ratio (DPR) is 17.90%.
Two River Bancorp 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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