Riverview Bancorp (NASDAQ:RVSB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Riverview Bancorp (NASDAQ:RVSB) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Riverview Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Riverview Bancorp Stock Up 3.8%

NASDAQ:RVSB opened at $5.24 on Friday. Riverview Bancorp has a 1 year low of $4.45 and a 1 year high of $6.59. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The stock has a market cap of $109.78 million, a price-to-earnings ratio of 21.83 and a beta of 0.61. The stock has a 50-day moving average price of $5.08 and a two-hundred day moving average price of $5.48.

Riverview Bancorp (NASDAQ:RVSB) last posted its earnings results on Tuesday, July 29th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Riverview Bancorp had a return on equity of 3.22% and a net margin of 6.95%.The firm had revenue of $13.27 million during the quarter, compared to analysts’ expectations of $13.30 million. As a group, equities analysts expect that Riverview Bancorp will post 0.2 earnings per share for the current year.

Riverview Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, October 9th. Riverview Bancorp’s dividend payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Nierenberg Investment Management Company Inc. boosted its position in shares of Riverview Bancorp by 18.7% during the second quarter. Nierenberg Investment Management Company Inc. now owns 1,937,775 shares of the savings and loans company’s stock worth $10,658,000 after buying an additional 304,741 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in Riverview Bancorp by 17.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 761,908 shares of the savings and loans company’s stock worth $4,305,000 after acquiring an additional 110,466 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Riverview Bancorp by 539.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company’s stock worth $3,161,000 after acquiring an additional 484,804 shares in the last quarter. Geode Capital Management LLC raised its holdings in Riverview Bancorp by 110.2% during the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock worth $2,533,000 after acquiring an additional 241,368 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Riverview Bancorp by 4.0% during the second quarter. Bridgeway Capital Management LLC now owns 258,167 shares of the savings and loans company’s stock worth $1,420,000 after acquiring an additional 9,867 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc operates as a bank holding company for Riverview Bank that provides commercial banking services to small and medium size businesses, professionals, and wealth building 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.