Riverview Bancorp Inc (NASDAQ:RVSB) Short Interest Update

Key Points

• Short interest surged 90.6% to 269,447 shares as of July 31, representing about 1.4% of Riverview Bancorp’s shares and 4.5 days of average trading volume.
• Analyst sentiment weakened, with recent downgrades contributing to a consensus “Reduce” rating; one analyst rates the stock “Hold” and another rates it “Sell.”
• Riverview Bancorp reported quarterly EPS of $0.08, beating estimates by $0.01, while revenue of $15.01 million also exceeded expectations. Shares recently traded at $5.25, within a 12-month range of $4.74 to $6.22, and the company maintains a $0.02 quarterly dividend.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 269,447 shares, a growth of 90.6% from the July 15th total of 141,358 shares. Approximately 1.4% of the company's shares are sold short. Based on an average daily volume of 59,683 shares, the short-interest ratio is currently 4.5 days.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Riverview Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Weiss Ratings lowered Riverview Bancorp from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce".

Insider Transactions at Riverview Bancorp

In other Riverview Bancorp news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider owned 89,388 shares in the company, valued at approximately $469,287. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders acquired 3,426 shares of company stock worth $18,194. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RVSB. Nierenberg Investment Management Company LLC bought a new stake in Riverview Bancorp in the second quarter valued at approximately $11,037,968,000. BlackRock Inc. purchased a new stake in shares of Riverview Bancorp in the 2nd quarter worth about $7,042,000. The Manufacturers Life Insurance Company purchased a new position in shares of Riverview Bancorp during the second quarter valued at approximately $5,767,000. Arrowstreet Capital Limited Partnership boosted its holdings in Riverview Bancorp by 539.2% in 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. Finally, Geode Capital Management LLC increased its stake in Riverview Bancorp by 110.2% during the 2nd quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company's stock valued at $2,533,000 after purchasing an additional 241,368 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors.

Riverview Bancorp Stock Performance

Riverview Bancorp stock traded down $0.06 during midday trading on Friday, reaching $5.25. The stock had a trading volume of 53,835 shares, compared to its average volume of 54,070. The firm has a market capitalization of $105.84 million, a PE ratio of -27.63 and a beta of 0.49. 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's 50-day moving average price is $5.45 and its 200 day moving average price is $5.43. Riverview Bancorp has a 12 month low of $4.74 and a 12 month high of $6.22.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last posted its earnings results on Wednesday, July 29th. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $15.01 million for the quarter, compared to the consensus estimate of $14.80 million. Riverview Bancorp had a positive return on equity of 3.06% and a negative net margin of 5.87%. As a group, research analysts predict that Riverview Bancorp will post 0.28 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Thursday, July 9th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 9th. Riverview Bancorp's dividend payout ratio (DPR) is -42.11%.

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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