Riverview Bancorp (RVSB) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Riverview Bancorp (NASDAQ:RVSB) from a hold rating to a buy rating in a report issued on Wednesday. The brokerage currently has $9.50 price target on the savings and loans company’s stock.

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. “

Separately, ValuEngine cut Riverview Bancorp from a hold rating to a sell rating in a research note on Wednesday, October 3rd.

RVSB stock traded up $0.03 during midday trading on Wednesday, hitting $8.55. The stock had a trading volume of 56,646 shares, compared to its average volume of 35,414. The stock has a market cap of $192.35 million, a price-to-earnings ratio of 16.13 and a beta of 0.52. Riverview Bancorp has a 52-week low of $7.02 and a 52-week high of $9.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.24.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings results on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The company had revenue of $14.62 million for the quarter, compared to analysts’ expectations of $14.20 million. Riverview Bancorp had a return on equity of 12.73% and a net margin of 22.54%. Equities research analysts expect that Riverview Bancorp will post 0.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Investors of record on Friday, October 12th were paid a $0.035 dividend. The ex-dividend date was Thursday, October 11th. This represents a $0.14 annualized dividend and a yield of 1.64%. Riverview Bancorp’s payout ratio is 26.42%.

Hedge funds have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Riverview Bancorp in the third quarter worth $128,000. John W. Rosenthal Capital Management Inc. purchased a new stake in shares of Riverview Bancorp in the third quarter worth $177,000. Bailard Inc. purchased a new stake in shares of Riverview Bancorp in the second quarter worth $633,000. Acadian Asset Management LLC grew its stake in shares of Riverview Bancorp by 14.9% in the third quarter. Acadian Asset Management LLC now owns 79,790 shares of the savings and loans company’s stock worth $705,000 after acquiring an additional 10,319 shares during the last quarter. Finally, Maltese Capital Management LLC purchased a new stake in shares of Riverview Bancorp in the second quarter worth $717,000. 59.54% of the stock is currently owned by institutional investors.

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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