According to Zacks, “Riverview Bancorp, Inc. is a holding company for Riverview Savings Bank. The bank is a community oriented financial institution offering traditional financial services to the residents of its primary market area. The bank is engaged in the business of attracting deposits from the public and using such funds to originate fixed-rate mortgage loans and adjustable rate mortgage loans secured by one- to- four family residential real estate located in its primary market area. The bank is an active originator of residential construction loans and consumer loans. “
A number of other research firms also recently issued reports on RVSB. ValuEngine downgraded shares of Riverview Bancorp from a hold rating to a sell rating in a report on Thursday, August 1st. Raymond James lowered their target price on shares of Riverview Bancorp from $9.00 to $8.00 and set an outperform rating on the stock in a report on Thursday, August 29th.
Shares of NASDAQ RVSB traded up $0.07 during midday trading on Wednesday, reaching $7.28. The company’s stock had a trading volume of 30,000 shares, compared to its average volume of 62,293. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.62. Riverview Bancorp has a fifty-two week low of $5.46 and a fifty-two week high of $8.72. The stock has a market capitalization of $163.82 million, a price-to-earnings ratio of 9.61 and a beta of 0.64. The stock has a 50 day simple moving average of $7.33 and a 200-day simple moving average of $7.72.
Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. Riverview Bancorp had a net margin of 27.67% and a return on equity of 13.03%. The company had revenue of $14.61 million for the quarter, compared to the consensus estimate of $14.60 million. As a group, equities analysts anticipate that Riverview Bancorp will post 0.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 14th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.18 dividend on an annualized basis and a yield of 2.47%. Riverview Bancorp’s payout ratio is 23.68%.
In other news, Director Gerald Lee Nies bought 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $7.58 per share, for a total transaction of $75,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Nierenberg bought 20,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price of $6.85 per share, for a total transaction of $137,000.00. The disclosure for this purchase can be found here. 6.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its holdings in Riverview Bancorp by 501.3% during the first quarter. BNP Paribas Arbitrage SA now owns 4,498 shares of the savings and loans company’s stock worth $33,000 after buying an additional 3,750 shares during the last quarter. Zebra Capital Management LLC bought a new position in Riverview Bancorp during the second quarter worth $87,000. Russell Investments Group Ltd. boosted its position in Riverview Bancorp by 305.0% during the second quarter. Russell Investments Group Ltd. now owns 10,125 shares of the savings and loans company’s stock worth $87,000 after purchasing an additional 7,625 shares during the period. Susquehanna International Group LLP bought a new position in Riverview Bancorp during the second quarter worth $88,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Riverview Bancorp by 67.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,375 shares of the savings and loans company’s stock worth $148,000 after purchasing an additional 6,975 shares during the period. Institutional investors and hedge funds own 63.23% of the company’s stock.
About Riverview Bancorp
Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services to small and medium size businesses, professionals, and individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans.
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