Riverview Bancorp (NASDAQ:RVSB) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Riverview Bancorp (NASDAQ:RVSB) from a sell rating to a hold rating in a report published on Saturday morning.

Several other analysts also recently commented on RVSB. Zacks Research raised shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Riverview Bancorp in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Riverview Bancorp Stock Down 0.8%

Shares of NASDAQ:RVSB opened at $5.17 on Friday. The company has a market capitalization of $107.28 million, a price-to-earnings ratio of 22.48 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. The business’s 50-day moving average is $5.18 and its 200-day moving average is $5.17. Riverview Bancorp has a 1 year low of $4.74 and a 1 year high of $6.59.

Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Tuesday, January 27th. The savings and loans company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. 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 3.00% and a net margin of 6.41%. Equities research analysts predict that Riverview Bancorp will post 0.2 earnings per share for the current year.

Riverview Bancorp declared that its board has authorized a share repurchase plan on Wednesday, January 28th that allows the company to repurchase $4.00 million in outstanding shares. This repurchase authorization allows the savings and loans company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Riverview Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 5th were issued a dividend of $0.02 per share. The ex-dividend date was Monday, January 5th. This represents a $0.08 annualized dividend and a yield of 1.5%. Riverview Bancorp’s dividend payout ratio is presently 34.78%.

Institutional Investors Weigh In On Riverview Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its stake in Riverview Bancorp by 539.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company’s stock valued at $3,161,000 after purchasing an additional 484,804 shares during the last quarter. Nierenberg Investment Management Company Inc. lifted its holdings in shares of Riverview Bancorp by 18.7% in the second quarter. Nierenberg Investment Management Company Inc. now owns 1,937,775 shares of the savings and loans company’s stock valued at $10,658,000 after purchasing an additional 304,741 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Riverview Bancorp by 110.2% in 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 purchasing an additional 241,368 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Riverview Bancorp during the second quarter valued at approximately $913,000. Finally, Two Sigma Investments LP grew its holdings in Riverview Bancorp by 719.8% during the third quarter. Two Sigma Investments LP now owns 82,440 shares of the savings and loans company’s stock worth $443,000 after buying an additional 72,384 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Riverview Bancorp Company Profile

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.