Riverview Bancorp, Inc. (NASDAQ:RVSB) Sees Significant Drop in Short Interest

Riverview Bancorp, Inc. (NASDAQ:RVSB) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 169,200 shares, a decline of 15.0% from the June 30th total of 199,000 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 52,400 shares, the short-interest ratio is currently 3.2 days.

Hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Riverview Bancorp during the 1st quarter worth about $76,000. BlackRock Inc. lifted its holdings in Riverview Bancorp by 4.8% during the 4th quarter. BlackRock Inc. now owns 2,554,519 shares of the savings and loans company’s stock worth $18,598,000 after purchasing an additional 117,129 shares in the last quarter. LSV Asset Management purchased a new stake in Riverview Bancorp during the 1st quarter worth about $428,000. Dimensional Fund Advisors LP lifted its holdings in Riverview Bancorp by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,692,210 shares of the savings and loans company’s stock worth $12,319,000 after purchasing an additional 37,445 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Riverview Bancorp by 2.5% during the 4th quarter. Bank of New York Mellon Corp now owns 152,457 shares of the savings and loans company’s stock worth $1,109,000 after purchasing an additional 3,718 shares in the last quarter. 61.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ RVSB traded down $0.17 during trading on Thursday, reaching $7.30. 31,700 shares of the stock traded hands, compared to its average volume of 43,689. Riverview Bancorp has a 52-week low of $5.46 and a 52-week high of $9.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day moving average of $8.16 and a 200-day moving average of $7.81. The stock has a market capitalization of $171.31 million, a P/E ratio of 9.61 and a beta of 0.55.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Riverview Bancorp had a return on equity of 13.31% and a net margin of 27.67%. The firm had revenue of $14.61 million for the quarter, compared to analysts’ expectations of $14.60 million. 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, July 23rd. Stockholders of record on Friday, July 12th were given a dividend of $0.045 per share. The ex-dividend date was Thursday, July 11th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.47%. Riverview Bancorp’s dividend payout ratio is presently 23.68%.

RVSB has been the topic of a number of recent research reports. Zacks Investment Research cut Riverview Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. ValuEngine cut Riverview Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

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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