Riverview Bancorp Inc (NASDAQ:RVSB) Short Interest Down 83.2% in June

Riverview Bancorp Inc (NASDAQ:RVSB) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 72,736 shares, a decline of 83.2% from the June 15th total of 433,773 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 358,388 shares, the days-to-cover ratio is currently 0.2 days.

Riverview Bancorp Stock Performance

NASDAQ RVSB traded up $0.05 on Monday, hitting $5.33. 83,733 shares of the company’s stock were exchanged, compared to its average volume of 212,496. The firm’s 50-day moving average price is $5.54 and its two-hundred day moving average price is $5.39. Riverview Bancorp has a fifty-two week low of $4.74 and a fifty-two week high of $6.22. The firm has a market cap of $108.09 million, a price-to-earnings ratio of -25.38 and a beta of 0.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.94 and a quick ratio of 0.94.

Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Thursday, April 30th. The savings and loans company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $13.50 million during the quarter, compared to analyst estimates of $14.10 million. Riverview Bancorp had a negative net margin of 6.70% and a positive return on equity of 2.74%. On average, research analysts expect that Riverview Bancorp will post 0.32 EPS for the current year.

Riverview Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Thursday, July 9th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, July 9th. Riverview Bancorp’s dividend payout ratio (DPR) is presently -38.10%.

Hedge Funds Weigh In On Riverview Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Riverview Bancorp by 4.0% in the 4th quarter. Barclays PLC now owns 86,231 shares of the savings and loans company’s stock valued at $433,000 after buying an additional 3,325 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Riverview Bancorp by 122.9% during the third quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 3,524 shares during the period. American Century Companies Inc. raised its position in shares of 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 buying an additional 4,206 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Riverview Bancorp by 4.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 122,631 shares of the savings and loans company’s stock worth $616,000 after purchasing an additional 5,359 shares during the period. Finally, Geode Capital Management LLC lifted its position in Riverview Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 471,324 shares of the savings and loans company’s stock valued at $2,366,000 after buying an additional 5,793 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RVSB shares. Weiss Ratings cut shares of Riverview Bancorp from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Wall Street Zen upgraded shares of Riverview Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

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.