Riverview Bancorp (NASDAQ:RVSB) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Riverview Bancorp (NASDAQ:RVSB) from a sell rating to a hold rating in a research note published on Tuesday, 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. “

Several other equities research analysts also recently weighed in on RVSB. Raymond James lowered their target price on shares of Riverview Bancorp from $9.00 to $8.00 and set an outperform rating for the company in a research note on Thursday, August 29th. ValuEngine downgraded shares of Riverview Bancorp from a hold rating to a sell rating in a research note on Thursday, August 1st.

RVSB stock traded up $0.05 during trading on Tuesday, hitting $7.33. 522 shares of the company’s stock traded hands, compared to its average volume of 56,932. The firm has a market capitalization of $165.87 million, a P/E ratio of 9.61 and a beta of 0.64. The business has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $7.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.62. Riverview Bancorp has a 1 year low of $5.46 and a 1 year high of $8.72.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $14.61 million for the quarter, compared to analyst estimates of $14.60 million. Riverview Bancorp had a net margin of 27.67% and a return on equity of 13.03%. On average, equities research analysts predict that Riverview Bancorp will post 0.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 14th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.18 annualized dividend and a yield of 2.46%. Riverview Bancorp’s dividend payout ratio (DPR) is 23.68%.

In other news, Director David Nierenberg bought 20,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $6.85 per share, for a total transaction of $137,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Lee Nies bought 10,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $7.58 per share, with a total value of $75,800.00. The disclosure for this purchase can be found here. 6.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zebra Capital Management LLC acquired a new stake in Riverview Bancorp in the second quarter valued at approximately $87,000. Russell Investments Group Ltd. lifted its stake in shares of Riverview Bancorp by 305.0% during the second quarter. Russell Investments Group Ltd. now owns 10,125 shares of the savings and loans company’s stock worth $87,000 after buying an additional 7,625 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Riverview Bancorp during the second quarter worth $88,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Riverview Bancorp by 67.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,375 shares of the savings and loans company’s stock worth $148,000 after buying an additional 6,975 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Riverview Bancorp during the second quarter worth $153,000. Institutional investors own 63.23% of the company’s stock.

Riverview Bancorp Company Profile

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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