Two River Bancorp (TRCB) Board Authorizes Share Repurchase Program

Two River Bancorp (NASDAQ:TRCB) declared that its board has approved a share repurchase plan, which permits the company to buyback $2.00 million in shares on Thursday, December 14th, EventVestor reports. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Two River Bancorp (TRCB) opened at $18.73 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $158.40, a P/E ratio of 19.00 and a beta of 0.60. Two River Bancorp has a 52-week low of $14.25 and a 52-week high of $20.75.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 8th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.96%. Two River Bancorp’s dividend payout ratio is currently 17.90%.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Two River Bancorp from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, September 19th. ValuEngine downgraded Two River Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th.

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

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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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