Riverview Bancorp (NASDAQ:RVSB) Shares Pass Above 200-Day Moving Average - Here's Why

Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Raymond James reaffirmed an "outperform" rating and set a $7.00 target price (up from $6.25) on shares of Riverview Bancorp in a research note on Friday, May 2nd. StockNews.com assumed coverage on Riverview Bancorp in a research note on Friday, March 7th. They issued a "hold" rating for the company.

Riverview Bancorp Stock Down 0.8%

The firm's fifty day moving average is $5.82 and its 200-day moving average is $5.57. The stock has a market capitalization of $126.90 million, a PE ratio of 151.29 and a beta of 0.50. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.72.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last issued 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. Riverview Bancorp had a return on equity of 2.92% and a net margin of 1.13%. The firm had revenue of $12.90 million during the quarter, compared to analysts' expectations of $12.40 million. On average, equities research analysts predict that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current year.

Riverview Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.32%. Riverview Bancorp's dividend payout ratio (DPR) is 34.78%.

Riverview Bancorp declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 29th that allows the company to repurchase $2.00 million in shares. This repurchase authorization allows the savings and loans company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Riverview Bancorp

In related news, major shareholder Martin S. Friedman sold 186,348 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.18, for a total value of $965,282.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its stake in shares of Riverview Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company's stock valued at $540,000 after purchasing an additional 4,524 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in Riverview Bancorp by 2.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 651,442 shares of the savings and loans company's stock valued at $3,739,000 after acquiring an additional 15,395 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Riverview Bancorp in the fourth quarter worth $224,000. Nierenberg Investment Management Company Inc. grew its position in Riverview Bancorp by 21.3% in the 4th quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company's stock worth $7,384,000 after purchasing an additional 225,822 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Riverview Bancorp by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company's stock valued at $5,446,000 after acquiring an additional 2,496 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Riverview Bancorp Company Profile

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.

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