Riverview Bancorp (NASDAQ:RVSB) Raised to Moderate Buy at Raymond James Financial

Key Points

• Raymond James upgraded Riverview Bancorp to “moderate buy,” although the broader analyst consensus remains “Hold,” with one Buy, one Hold and one Sell rating.
• Riverview Bancorp exceeded quarterly expectations, reporting earnings per share of $0.08 versus the $0.07 consensus and revenue of $15.01 million compared with estimates of $14.80 million.
• Institutional investors own 69.6% of the company, following new stakes from firms including Nierenberg Investment Management, BlackRock and Manufacturers Life Insurance; the stock opened at $6.02 and has traded between $4.88 and $6.22 over the past year.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) was upgraded by analysts at Raymond James Financial to a "moderate buy" rating in a research report issued on Monday, Zacks reports.

A number of other analysts also recently issued reports on the company. Weiss Ratings raised Riverview Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded Riverview Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold".

Riverview Bancorp Price Performance

NASDAQ RVSB opened at $6.02 on Monday. The firm's 50 day moving average is $5.53 and its 200-day moving average is $5.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $120.10 million, a PE ratio of 26.13 and a beta of 0.47. Riverview Bancorp has a 12-month low of $4.88 and a 12-month high of $6.22.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its earnings results on Wednesday, July 29th. The savings and loans company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $15.01 million during the quarter, compared to analysts' expectations of $14.80 million. Riverview Bancorp had a negative net margin of 5.87% and a positive return on equity of 3.12%.

Insiders Place Their Bets

In other Riverview Bancorp news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the company's stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $5.25, for a total transaction of $26,250.00. Following the sale, the insider directly owned 89,388 shares of the company's stock, valued at approximately $469,287. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired 13,465 shares of company stock worth $73,401 in the last 90 days. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RVSB. Nierenberg Investment Management Company LLC acquired a new position in Riverview Bancorp during the second quarter worth approximately $11,037,968. BlackRock Inc. bought a new stake in Riverview Bancorp in the second quarter valued at approximately $7,042,000. The Manufacturers Life Insurance Company bought a new stake in Riverview Bancorp in the second quarter valued at approximately $5,767,000. Empowered Funds LLC acquired a new stake in shares of Riverview Bancorp in the second quarter valued at approximately $697,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Riverview Bancorp in the second quarter valued at approximately $661,000. Institutional investors own 69.60% of the company's stock.

About Riverview Bancorp

Riverview Bancorp, Inc is a bank holding company headquartered in Vancouver, Washington. Its principal subsidiary, Riverview Community Bank, provides banking services to individuals, families, businesses and nonprofit organizations.

Riverview Community Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include commercial and industrial loans, commercial real estate financing, construction loans, residential mortgage loans, home equity products and consumer loans.

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