Riverview Bancorp (NASDAQ:RVSB) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Shares of Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.57 and traded as high as $6.15. Riverview Bancorp shares last traded at $6.05, with a volume of 132,815 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on RVSB. Raymond James reiterated an "outperform" rating and issued a $7.00 price objective (up from $6.25) on shares of Riverview Bancorp in a report on Friday, May 2nd. Wall Street Zen assumed coverage on Riverview Bancorp in a research note on Friday, March 7th. They set a "hold" rating for the company.

Riverview Bancorp Trading Down 1.7%

The company has a debt-to-equity ratio of 0.72, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average of $5.88 and a 200-day moving average of $5.60. The stock has a market capitalization of $121.45 million, a price-to-earnings ratio of 144.79 and a beta of 0.50.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The savings and loans company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $12.90 million for the quarter, compared to analysts' expectations of $12.40 million. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. On average, equities analysts anticipate that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were paid a $0.02 dividend. The ex-dividend date was Monday, April 14th. This represents a $0.08 dividend on an annualized basis and a yield of 1.38%. Riverview Bancorp's dividend payout ratio is currently 34.78%.

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

Insider Buying and Selling at Riverview Bancorp

In other Riverview Bancorp news, major shareholder Martin S. Friedman sold 186,348 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $5.18, for a total transaction of $965,282.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders bought 6,750 shares of company stock valued at $40,685. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Riverview Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC raised its position in Riverview Bancorp by 204.1% during the first quarter. Jane Street Group LLC now owns 46,318 shares of the savings and loans company's stock valued at $262,000 after buying an additional 31,085 shares during the period. Empowered Funds LLC increased its holdings in shares of Riverview Bancorp by 7.4% in the 1st quarter. Empowered Funds LLC now owns 101,394 shares of the savings and loans company's stock valued at $573,000 after purchasing an additional 6,988 shares during the period. Pacific Ridge Capital Partners LLC grew its position in Riverview Bancorp by 17.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 761,908 shares of the savings and loans company's stock valued at $4,305,000 after purchasing an additional 110,466 shares in the last quarter. Columbia River Financial Group LLC acquired a new stake in shares of Riverview Bancorp during the 1st quarter valued at $31,000. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Riverview Bancorp by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 254,312 shares of the savings and loans company's stock worth $1,460,000 after acquiring an additional 2,924 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

About Riverview Bancorp

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.