Spark Investment Management LLC Buys 5,800 Shares of Two River Bancorp (NASDAQ:TRCB)
Spark Investment Management LLC increased its stake in Two River Bancorp (NASDAQ:TRCB) by 55.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,300 shares of the financial services provider’s stock after buying an additional 5,800 shares during the period. Spark Investment Management LLC’s holdings in Two River Bancorp were worth $303,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. HPM Partners LLC bought a new stake in Two River Bancorp during the first quarter valued at approximately $1,522,000. Bank of New York Mellon Corp raised its stake in Two River Bancorp by 20.7% in the first quarter. Bank of New York Mellon Corp now owns 37,619 shares of the financial services provider’s stock valued at $665,000 after buying an additional 6,446 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Two River Bancorp by 2.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 59,757 shares of the financial services provider’s stock valued at $1,056,000 after buying an additional 1,438 shares in the last quarter. Nordea Investment Management AB bought a new stake in Two River Bancorp during the first quarter valued at approximately $177,000. Finally, ClariVest Asset Management LLC bought a new stake in Two River Bancorp during the first quarter valued at approximately $325,000. Institutional investors and hedge funds own 17.47% of the company’s stock.
Shares of Two River Bancorp (NASDAQ TRCB) opened at 17.89 on Tuesday. The stock has a market cap of $149.76 million, a price-to-earnings ratio of 16.89 and a beta of 0.61. Two River Bancorp has a 52-week low of $10.30 and a 52-week high of $18.90. The firm has a 50-day moving average price of $18.09 and a 200 day moving average price of $17.50.
Two River Bancorp (NASDAQ:TRCB) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Two River Bancorp had a return on equity of 8.95% and a net margin of 21.67%. The company had revenue of $9.50 million for the quarter, compared to the consensus estimate of $9.12 million. Analysts expect that Two River Bancorp will post $0.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Friday, August 11th will be paid a $0.045 dividend. This is an increase from Two River Bancorp’s previous quarterly dividend of $0.04. This represents a $0.18 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, August 9th. Two River Bancorp’s dividend payout ratio (DPR) is 16.98%.
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Separately, Zacks Investment Research lowered Two River Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 19th.
In related news, Director Andrew A. Vitale bought 2,000 shares of the stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $18.21 per share, for a total transaction of $36,420.00. Following the purchase, the director now owns 19,391 shares of the company’s stock, valued at approximately $353,110.11. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 16.48% of the company’s stock.
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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