Riverview Bancorp Inc (NASDAQ:RVSB) Short Interest Update

Key Points

• Short interest nearly doubled: Shares sold short rose 94.3% to 141,358 as of July 15, representing about 0.7% of RVSB’s outstanding shares and 1.9 days to cover.
• Quarterly results beat expectations: Riverview Bancorp reported earnings of $0.08 per share versus the $0.07 analyst consensus, with revenue of $15.01 million exceeding estimates of $14.80 million.
• Investor outlook remains cautious: Analysts’ average rating is “Reduce,” while the company maintains a quarterly dividend of $0.02 per share, equivalent to a 1.5% yield. Institutional investors own approximately 69.6% of the stock.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 141,358 shares, a growth of 94.3% from the June 30th total of 72,736 shares. Based on an average daily trading volume, of 73,260 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Riverview Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday. Wall Street Zen upgraded Riverview Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Riverview Bancorp presently has an average rating of "Reduce".

Riverview Bancorp Stock Down 1.5%

NASDAQ RVSB opened at $5.29 on Thursday. The business's fifty day simple moving average is $5.51 and its 200-day simple moving average is $5.41. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.31. The firm has a market cap of $106.65 million, a PE ratio of -27.84 and a beta of 0.48. Riverview Bancorp has a 52 week low of $4.74 and a 52 week high of $6.22.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Riverview Bancorp had a negative net margin of 5.87% and a positive return on equity of 3.06%. The firm had revenue of $15.01 million during the quarter, compared to analyst estimates of $14.80 million. As a group, equities analysts anticipate that Riverview Bancorp will post 0.32 earnings per share for the current year.

Riverview Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, July 9th. Riverview Bancorp's payout ratio is presently -38.10%.

Insider Activity

In other 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 completion of the sale, the insider directly owned 89,388 shares in the company, valued at $469,287. This represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 4,896 shares of company stock worth $26,082 over the last ninety days. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Riverview Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in RVSB. Dimensional Fund Advisors LP raised its position in shares of Riverview Bancorp by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,336,020 shares of the savings and loans company's stock valued at $7,349,000 after buying an additional 15,745 shares during the period. Pacific Ridge Capital Partners LLC grew its position in Riverview Bancorp by 3.5% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 723,684 shares of the savings and loans company's stock worth $3,633,000 after acquiring an additional 24,178 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Riverview Bancorp by 1.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 581,943 shares of the savings and loans company's stock worth $3,125,000 after acquiring an additional 7,220 shares during the period. Geode Capital Management LLC increased its stake in Riverview Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 471,324 shares of the savings and loans company's stock worth $2,366,000 after acquiring an additional 5,793 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Riverview Bancorp by 21.1% during the first quarter. Renaissance Technologies LLC now owns 319,207 shares of the savings and loans company's stock worth $1,756,000 after acquiring an additional 55,700 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc NASDAQ: RVSB is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company's deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.

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