Riverview Bancorp (NASDAQ:RVSB) Stock Breaks Above 200-Day Moving Average - Here's What Happened

Key Points

• Riverview Bancorp shares broke above their 200-day moving average, reaching $6.09 and closing around $5.99, compared with the moving average of $5.46.
• Analyst sentiment remains cautious: the stock was upgraded by two firms but still carries a consensus “Reduce” rating, with one Hold and one Sell rating.
• The company exceeded quarterly earnings and revenue estimates, reporting $0.08 in EPS and $15.01 million in revenue, while declaring a quarterly dividend of $0.02 per share, yielding approximately 1.3% annually.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $5.46 and traded as high as $6.09. Riverview Bancorp shares last traded at $5.99, with a volume of 61,371 shares.

Analyst Ratings Changes

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

Riverview Bancorp Price Performance

The company has a market cap of $119.52 million, a price-to-earnings ratio of -31.52 and a beta of 0.47. The company has a 50-day simple moving average of $5.44 and a 200-day simple moving average of $5.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 0.93.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The savings and loans company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Riverview Bancorp had a positive return on equity of 3.12% and a negative net margin of 5.87%.The firm had revenue of $15.01 million for the quarter, compared to analyst estimates of $14.80 million. As a group, research analysts predict that Riverview Bancorp Inc will post 0.28 earnings per share for the current year.

Riverview Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Friday, October 9th will be issued a $0.02 dividend. The ex-dividend date is Friday, October 9th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.3%. Riverview Bancorp's dividend payout ratio is currently -42.11%.

Insiders Place Their Bets

In related news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $5.25, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 13,465 shares of company stock valued at $73,401 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new position in shares of Riverview Bancorp in the second quarter worth $61,000. Squarepoint Ops LLC acquired a new stake in shares of Riverview Bancorp during the second quarter valued at $195,000. Ancora Advisors LLC increased its position in Riverview Bancorp by 371.9% during the 2nd quarter. Ancora Advisors LLC now owns 97,424 shares of the savings and loans company's stock worth $529,000 after purchasing an additional 76,777 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Riverview Bancorp during the 2nd quarter worth about $661,000. Finally, Empowered Funds LLC acquired a new position in Riverview Bancorp in the 2nd quarter valued at about $697,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

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 public-sector organizations in Southwest Washington and Oregon.

Riverview Community Bank offers deposit products, commercial and residential real estate loans, construction and land development financing, commercial business loans, consumer lending and residential mortgage services.

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