Two Rivers Bancorp (NASDAQ:TRCB) declared a quarterly dividend on Wednesday, July 17th, NASDAQ reports. Shareholders of record on Friday, August 9th will be paid a dividend of 0.07 per share by the financial services provider on Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, August 8th.
Two Rivers Bancorp has increased its dividend payment by an average of 15.4% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Two Rivers Bancorp has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Two Rivers Bancorp to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 19.7%.
Shares of NASDAQ:TRCB opened at $13.88 on Tuesday. The stock’s 50 day simple moving average is $14.30. Two Rivers Bancorp has a 12-month low of $11.54 and a 12-month high of $18.69. The firm has a market cap of $120.76 million, a price-to-earnings ratio of 10.60 and a beta of 0.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.03.
A number of brokerages have recently weighed in on TRCB. FIG Partners reaffirmed an “outperform” rating on shares of Two Rivers Bancorp in a report on Wednesday, April 24th. Boenning Scattergood reaffirmed a “buy” rating and set a $18.00 price target on shares of Two Rivers Bancorp in a report on Wednesday, July 24th. Finally, Zacks Investment Research downgraded shares of Two Rivers Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th.
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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