Riverview Bancorp (NASDAQ:RVSB) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Riverview Bancorp (NASDAQ:RVSB) from a hold rating to a sell rating in a research note released on Saturday morning.

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

Riverview Bancorp Stock Up 0.9%

RVSB stock opened at $5.42 on Friday. The company has a market cap of $112.47 million, a price-to-earnings ratio of 23.57 and a beta of 0.62. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. Riverview Bancorp has a 12 month low of $4.74 and a 12 month high of $6.59. The firm has a 50-day moving average of $5.22 and a two-hundred day moving average of $5.17.

Riverview Bancorp (NASDAQ:RVSB) last issued its earnings results on Thursday, January 29th. The savings and loans company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Riverview Bancorp had a return on equity of 3.00% and a net margin of 6.41%.The business had revenue of $14.05 million for the quarter, compared to analysts’ expectations of $13.70 million. As a group, analysts forecast that Riverview Bancorp will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

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

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

Hedge Funds Weigh In On Riverview Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Nierenberg Investment Management Company Inc. raised its position in Riverview Bancorp by 4.9% in the third quarter. Nierenberg Investment Management Company Inc. now owns 2,032,775 shares of the savings and loans company’s stock valued at $10,916,000 after purchasing an additional 95,000 shares during the period. Pacific Ridge Capital Partners LLC grew its stake in shares of Riverview Bancorp by 3.5% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 723,684 shares of the savings and loans company’s stock valued at $3,633,000 after buying an additional 24,178 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Riverview Bancorp by 1.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 581,943 shares of the savings and loans company’s stock valued at $3,125,000 after buying an additional 7,220 shares during the period. Geode Capital Management LLC lifted its stake in Riverview Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 471,324 shares of the savings and loans company’s stock worth $2,366,000 after acquiring an additional 5,793 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its holdings in Riverview Bancorp by 3.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 392,296 shares of the savings and loans company’s stock valued at $2,107,000 after acquiring an additional 13,107 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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.