Pacific Ridge Capital Partners LLC Boosts Holdings in Riverview Bancorp Inc (NASDAQ:RVSB)

Key Points

• Pacific Ridge Capital Partners LLC increased its stake in Riverview Bancorp Inc by 17.0% in Q1, now owning approximately 3.63% of the company, valued at $4.3 million.
• Riverview Bancorp reported earnings of $0.06 per share for the last quarter, exceeding analyst expectations, and had a revenue of $13.27 million.
• The company has initiated a $2.00 million share buyback plan indicating management's belief that the stock is undervalued.

Pacific Ridge Capital Partners LLC boosted its stake in Riverview Bancorp Inc (NASDAQ:RVSB - Free Report) by 17.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 761,908 shares of the savings and loans company's stock after purchasing an additional 110,466 shares during the quarter. Pacific Ridge Capital Partners LLC owned about 3.63% of Riverview Bancorp worth $4,305,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RVSB. Arrowstreet Capital Limited Partnership acquired a new position in shares of Riverview Bancorp during the fourth quarter valued at about $224,000. Nierenberg Investment Management Company Inc. lifted its stake in shares of Riverview Bancorp by 21.3% during the 4th quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company's stock valued at $7,384,000 after buying an additional 225,822 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Riverview Bancorp by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company's stock valued at $5,446,000 after buying an additional 2,496 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Riverview Bancorp during the 4th quarter valued at approximately $87,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Riverview Bancorp by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 943,332 shares of the savings and loans company's stock valued at $5,415,000 after buying an additional 141,400 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Riverview Bancorp Price Performance

Shares of NASDAQ:RVSB traded down $0.01 during trading on Tuesday, reaching $4.86. The company had a trading volume of 28,235 shares, compared to its average volume of 122,984. Riverview Bancorp Inc has a 12 month low of $4.31 and a 12 month high of $6.59. The stock has a market capitalization of $101.86 million, a P/E ratio of 20.23 and a beta of 0.50. The company has a fifty day moving average of $5.47 and a two-hundred day moving average of $5.59. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.66.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.95% and a return on equity of 3.23%. The company had revenue of $13.27 million during the quarter, compared to analysts' expectations of $13.30 million. Equities research analysts forecast that Riverview Bancorp Inc will post 0.2 earnings per share for the current year.

Riverview Bancorp announced that its board has approved a stock buyback program on Tuesday, April 29th that authorizes the company to repurchase $2.00 million in shares. This repurchase authorization authorizes the savings and loans company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Riverview Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Thursday, July 10th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.08 annualized dividend and a yield of 1.6%. Riverview Bancorp's dividend payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reaffirmed an "outperform" rating and set a $7.00 target price (up previously from $6.25) on shares of Riverview Bancorp in a report on Friday, May 2nd.

Riverview Bancorp 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.