Riverview Bancorp (NASDAQ:RVSB) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Riverview Bancorp (NASDAQ:RVSB) announced its earnings results on Tuesday. The savings and loans company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03, Zacks reports. The business had revenue of $14.05 million during the quarter, compared to analysts’ expectations of $13.70 million. Riverview Bancorp had a return on equity of 2.92% and a net margin of 6.30%.

Riverview Bancorp Stock Performance

Shares of RVSB opened at $5.10 on Wednesday. The company has a 50-day moving average of $5.18 and a two-hundred day moving average of $5.18. The stock has a market cap of $105.83 million, a price-to-earnings ratio of 23.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.86 and a quick ratio of 0.86. Riverview Bancorp has a one year low of $4.74 and a one year high of $6.59.

Riverview Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 5th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, January 5th. Riverview Bancorp’s dividend payout ratio (DPR) is presently 36.36%.

Hedge Funds Weigh In On Riverview Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in Riverview Bancorp by 7.4% during the 1st quarter. Empowered Funds LLC now owns 101,394 shares of the savings and loans company’s stock valued at $573,000 after purchasing an additional 6,988 shares during the period. Jane Street Group LLC grew its holdings in shares of Riverview Bancorp by 204.1% during the first quarter. Jane Street Group LLC now owns 46,318 shares of the savings and loans company’s stock valued at $262,000 after buying an additional 31,085 shares in the last quarter. Geode Capital Management LLC raised its position in Riverview Bancorp by 110.2% during the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock valued at $2,533,000 after buying an additional 241,368 shares during the period. JPMorgan Chase & Co. acquired a new position in Riverview Bancorp during the second quarter valued at $53,000. Finally, American Century Companies Inc. lifted its stake in Riverview Bancorp by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 115,638 shares of the savings and loans company’s stock worth $636,000 after acquiring an additional 4,206 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Analyst Ratings Changes

RVSB has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Riverview Bancorp from a “hold” rating to a “strong sell” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Riverview Bancorp in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Riverview Bancorp currently has a consensus rating of “Hold” and a consensus price target of $7.00.

About Riverview Bancorp

Riverview Bancorp, Inc (NASDAQ: RVSB) is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company’s deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.