Millennium Management LLC acquired a new position in shares of Two Rivers Bancorp (NASDAQ:TRCB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 85,232 shares of the financial services provider’s stock, valued at approximately $1,630,000. Millennium Management LLC owned about 1.00% of Two Rivers Bancorp at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. LMR Partners LLP bought a new stake in shares of Two Rivers Bancorp in the 2nd quarter valued at about $380,000. Acadian Asset Management LLC raised its holdings in shares of Two Rivers Bancorp by 54.1% in the 2nd quarter. Acadian Asset Management LLC now owns 24,832 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 8,719 shares during the period. Bank of America Corp DE raised its holdings in shares of Two Rivers Bancorp by 32.8% in the 2nd quarter. Bank of America Corp DE now owns 25,052 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 6,185 shares during the period. Paloma Partners Management Co bought a new stake in shares of Two Rivers Bancorp in the 2nd quarter valued at about $671,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Two Rivers Bancorp by 48.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,251 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 17,408 shares during the period. Institutional investors own 22.24% of the company’s stock.
A number of brokerages have recently issued reports on TRCB. Zacks Investment Research cut shares of Two Rivers Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine cut shares of Two Rivers Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th.
Two Rivers Bancorp (NASDAQ:TRCB) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $10.50 million. Two Rivers Bancorp had a net margin of 17.59% and a return on equity of 9.56%. As a group, equities analysts forecast that Two Rivers Bancorp will post 1.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 7th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.44%. Two Rivers Bancorp’s payout ratio is 23.40%.
In other news, CEO William D. Moss bought 2,000 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were bought at an average cost of $15.95 per share, with a total value of $31,900.00. Following the acquisition, the chief executive officer now owns 13,122 shares in the company, valued at $209,295.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 4,873 shares of company stock worth $81,900. 16.51% of the stock is owned by insiders.
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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