Riverview Bancorp (NASDAQ:RVSB) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Riverview Bancorp reported quarterly EPS of $0.08, exceeding analysts’ consensus estimate of $0.07 by $0.01. However, the company posted a negative net margin of 6.70%.
• The stock rose $0.05 to $5.37 during Tuesday trading, with a market capitalization of approximately $108.3 million. Riverview also paid a quarterly dividend of $0.02, equivalent to an annualized yield of about 1.5%.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating, with one analyst rating it “Hold” and another rating it “Sell.”

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) issued its earnings results on Tuesday. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01, Zacks reports. Riverview Bancorp had a positive return on equity of 2.74% and a negative net margin of 6.70%.

Riverview Bancorp Price Performance

NASDAQ:RVSB traded up $0.05 during trading hours on Tuesday, reaching $5.37. The stock had a trading volume of 61,337 shares, compared to its average volume of 71,088. The stock has a market capitalization of $108.26 million, a PE ratio of -25.57 and a beta of 0.48. Riverview Bancorp has a 52 week low of $4.74 and a 52 week high of $6.22. The company has a 50 day moving average price of $5.52 and a two-hundred day moving average price of $5.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 0.94.

Riverview Bancorp Dividend Announcement

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

Insider Activity at Riverview Bancorp

In related news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 89,388 shares of the company's stock, valued at approximately $469,287. This trade represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 4,896 shares of company stock worth $26,082. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Riverview Bancorp

A number of hedge funds have recently bought and sold shares of RVSB. Raymond James Financial Inc. purchased a new position in shares of Riverview Bancorp in the 2nd quarter worth $34,000. BNP Paribas Financial Markets raised its position in shares of Riverview Bancorp by 122.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company's stock valued at $34,000 after buying an additional 3,524 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Riverview Bancorp in the 2nd quarter valued at about $53,000. Intech Investment Management LLC bought a new position in shares of Riverview Bancorp in the 3rd quarter valued at about $55,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Riverview Bancorp in the second quarter worth about $61,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Riverview Bancorp from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, July 9th. Wall Street Zen raised shares of Riverview Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Riverview Bancorp presently has a consensus rating of "Reduce".

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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