Riverview Bancorp (NASDAQ:RVSB) Raised to “Hold” at Wall Street Zen

Riverview Bancorp (NASDAQ:RVSB) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

RVSB has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Riverview Bancorp in a research note on Thursday, January 22nd. Zacks Research upgraded Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Riverview Bancorp presently has an average rating of “Hold” and an average target price of $7.00.

Riverview Bancorp Price Performance

RVSB opened at $5.52 on Friday. The company has a fifty day moving average price of $5.30 and a 200-day moving average price of $5.24. The firm has a market capitalization of $114.32 million, a P/E ratio of 24.00 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.88. Riverview Bancorp has a one year low of $4.74 and a one year high of $6.59.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly 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. The firm had revenue of $14.05 million for the quarter, compared to analysts’ expectations of $13.70 million. Riverview Bancorp had a net margin of 6.41% and a return on equity of 2.99%. Equities research analysts expect that Riverview Bancorp will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 28th that allows the company to repurchase $4.00 million in shares. This repurchase authorization allows the savings and loans company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Riverview Bancorp

Several hedge funds have recently added to or reduced their stakes in RVSB. Daytona Street Capital LLC bought a new position in shares of Riverview Bancorp during the fourth quarter valued at about $30,000. CWM LLC bought a new stake in shares of Riverview Bancorp in the 3rd quarter valued at about $30,000. BNP Paribas Financial Markets lifted its stake in shares of Riverview Bancorp by 122.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock valued at $34,000 after acquiring an additional 3,524 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Riverview Bancorp during the 2nd quarter valued at about $34,000. Finally, JPMorgan Chase & Co. bought a new position in Riverview Bancorp during the 2nd quarter worth approximately $53,000. 69.60% of the stock is owned by institutional investors.

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.