Wall Street analysts expect that Two Rivers Bancorp (NASDAQ:TRCB) will report $11.08 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Two Rivers Bancorp’s earnings, with the highest sales estimate coming in at $11.10 million and the lowest estimate coming in at $11.06 million. Two Rivers Bancorp reported sales of $10.47 million in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 23rd.
According to Zacks, analysts expect that Two Rivers Bancorp will report full-year sales of $44.34 million for the current fiscal year, with estimates ranging from $44.20 million to $44.48 million. For the next financial year, analysts forecast that the firm will report sales of $47.76 million, with estimates ranging from $47.30 million to $48.21 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Two Rivers Bancorp.
Two Rivers Bancorp (NASDAQ:TRCB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Two Rivers Bancorp had a net margin of 21.98% and a return on equity of 9.94%. The business had revenue of $10.50 million during the quarter, compared to analysts’ expectations of $10.53 million.
Several research firms recently weighed in on TRCB. Zacks Investment Research cut shares of Two Rivers Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Boenning Scattergood reissued a “hold” rating on shares of Two Rivers Bancorp in a research note on Tuesday, January 29th. Finally, FIG Partners reissued an “outperform” rating on shares of Two Rivers Bancorp in a research note on Wednesday, April 24th.
Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. bought a new position in Two Rivers Bancorp during the first quarter worth $27,000. JPMorgan Chase & Co. bought a new position in Two Rivers Bancorp during the first quarter worth $28,000. Advisor Group Inc. boosted its position in Two Rivers Bancorp by 521.6% during the fourth quarter. Advisor Group Inc. now owns 1,958 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,643 shares during the period. ExodusPoint Capital Management LP bought a new position in Two Rivers Bancorp during the first quarter worth $199,000. Finally, Context BH Capital Management LP bought a new position in Two Rivers Bancorp during the first quarter worth $333,000. 24.36% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:TRCB traded down $0.34 during midday trading on Friday, hitting $14.54. The stock had a trading volume of 13,600 shares, compared to its average volume of 7,387. Two Rivers Bancorp has a 12 month low of $11.54 and a 12 month high of $19.90. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $129.95 million, a PE ratio of 11.10 and a beta of 0.40.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Friday, May 10th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.93%. This is a boost from Two Rivers Bancorp’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, May 9th. Two Rivers Bancorp’s payout ratio is 21.37%.
About Two Rivers Bancorp
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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