Riverview Bancorp (NASDAQ:RVSB) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Riverview Bancorp (NASDAQ:RVSB) from a hold rating to a sell rating in a report published on Saturday, Zacks.com reports.

According to Zacks, “Riverview Bancorp, Inc. is a holding company for Riverview Savings Bank. The bank is a community oriented financial institution offering traditional financial services to the residents of its primary market area. The bank is engaged in the business of attracting deposits from the public and using such funds to originate fixed-rate mortgage loans and adjustable rate mortgage loans secured by one- to- four family residential real estate located in its primary market area. The bank is an active originator of residential construction loans and consumer loans. “

RVSB has been the topic of several other reports. ValuEngine downgraded Riverview Bancorp from a hold rating to a sell rating in a research note on Thursday, August 1st. Raymond James cut their target price on Riverview Bancorp from $9.00 to $8.00 and set an outperform rating on the stock in a research note on Thursday, August 29th.



Riverview Bancorp stock opened at $7.41 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $171.32 million, a P/E ratio of 9.75 and a beta of 0.63. The stock’s 50 day moving average is $7.50 and its 200 day moving average is $7.76. Riverview Bancorp has a twelve month low of $5.46 and a twelve month high of $9.51.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $14.61 million for the quarter, compared to the consensus estimate of $14.60 million. Riverview Bancorp had a return on equity of 13.03% and a net margin of 27.67%. As a group, equities analysts expect that Riverview Bancorp will post 0.75 EPS for the current year.

In other Riverview Bancorp news, Director Gerald Lee Nies bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $7.58 per share, for a total transaction of $75,800.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Nierenberg bought 20,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $6.85 per share, for a total transaction of $137,000.00. The disclosure for this purchase can be found here. Company insiders own 6.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in Riverview Bancorp by 501.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,498 shares of the savings and loans company’s stock valued at $33,000 after purchasing an additional 3,750 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Riverview Bancorp by 305.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,125 shares of the savings and loans company’s stock valued at $87,000 after purchasing an additional 7,625 shares during the last quarter. Zebra Capital Management LLC purchased a new stake in Riverview Bancorp during the 2nd quarter valued at $87,000. Susquehanna International Group LLP purchased a new stake in Riverview Bancorp during the 2nd quarter valued at $88,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Riverview Bancorp during the 1st quarter valued at $76,000. Institutional investors and hedge funds own 63.23% of the company’s stock.

About Riverview Bancorp

Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services to small and medium size businesses, professionals, and individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans.

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