Zacks Investment Research upgraded shares of Riverview Bancorp Inc (NASDAQ:RVSB) from a hold rating to a buy rating in a research report report published on Thursday, November 2nd. The firm currently has $10.00 price objective 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 raised shares of Riverview Bancorp from a hold rating to a buy rating in a report on Friday, October 27th.
Shares of Riverview Bancorp (RVSB) traded up $0.06 on Thursday, hitting $8.84. 79,130 shares of the company were exchanged, compared to its average volume of 91,996. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $199.20, a price-to-earnings ratio of 19.66 and a beta of 0.51. Riverview Bancorp has a 12-month low of $5.78 and a 12-month high of $9.05.
Riverview Bancorp (NASDAQ:RVSB) last announced its earnings results on Thursday, October 26th. The savings and loans company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $13.44 million during the quarter, compared to analyst estimates of $13.10 million. Riverview Bancorp had a net margin of 18.90% and a return on equity of 8.63%. equities analysts anticipate that Riverview Bancorp will post 0.55 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Friday, October 13th were issued a dividend of $0.0225 per share. The ex-dividend date was Thursday, October 12th. This represents a $0.09 dividend on an annualized basis and a yield of 1.02%. Riverview Bancorp’s payout ratio is currently 20.93%.
In other news, EVP Richard S. Michalek sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $8.77, for a total transaction of $105,240.00. Following the transaction, the executive vice president now directly owns 14,477 shares in the company, valued at $126,963.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Lee Nies sold 30,778 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $8.58, for a total transaction of $264,075.24. The disclosure for this sale can be found here. 7.41% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in shares of Riverview Bancorp by 27.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 18,776 shares of the savings and loans company’s stock worth $134,000 after purchasing an additional 4,038 shares in the last quarter. Globeflex Capital L P boosted its position in shares of Riverview Bancorp by 18.6% during the 2nd quarter. Globeflex Capital L P now owns 33,688 shares of the savings and loans company’s stock worth $224,000 after purchasing an additional 5,291 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Riverview Bancorp by 50.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 19,200 shares of the savings and loans company’s stock worth $161,000 after buying an additional 6,400 shares during the last quarter. Spark Investment Management LLC raised its stake in shares of Riverview Bancorp by 19.5% during the 2nd quarter. Spark Investment Management LLC now owns 41,100 shares of the savings and loans company’s stock worth $272,000 after buying an additional 6,700 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Riverview Bancorp by 11.0% during the 1st quarter. Renaissance Technologies LLC now owns 106,900 shares of the savings and loans company’s stock worth $764,000 after buying an additional 10,600 shares during the last quarter. Hedge funds and other institutional investors own 56.80% of the company’s stock.
Riverview Bancorp Company Profile
Riverview Bancorp, Inc (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Company operates through two segments, which include banking operations performed by the Bank and trust and investment services performed by Riverview Asset Management Corp. (RAMCorp).
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