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. “
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Riverview Bancorp from a hold rating to a sell rating in a research report on Thursday, August 1st. Raymond James dropped 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 report on Thursday, August 29th.
Riverview Bancorp (NASDAQ:RVSB) last announced its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $14.61 million during the quarter, compared to analysts’ expectations of $14.60 million. Riverview Bancorp had a net margin of 27.67% and a return on equity of 13.03%. On average, 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. Investors of record on Monday, October 14th will be given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 10th. Riverview Bancorp’s dividend payout ratio (DPR) is currently 23.68%.
In related news, Director Gerald Lee Nies acquired 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, for a total transaction of $75,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director David Nierenberg acquired 20,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $6.85 per share, with a total value of $137,000.00. The disclosure for this purchase can be found here. Company insiders own 6.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of RVSB. BNP Paribas Arbitrage SA increased its position in Riverview Bancorp by 501.3% in 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 acquiring an additional 3,750 shares in the last quarter. Zebra Capital Management LLC bought a new position in shares of Riverview Bancorp in the 2nd quarter valued at about $87,000. Russell Investments Group Ltd. boosted its stake in shares of Riverview Bancorp by 305.0% in 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. Susquehanna International Group LLP bought a new position in shares of Riverview Bancorp in the 2nd quarter valued at about $88,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Riverview Bancorp by 67.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,375 shares of the savings and loans company’s stock valued at $148,000 after purchasing an additional 6,975 shares during the last quarter. Hedge funds and other institutional investors 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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