Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.47 and traded as high as $6.43. Riverview Bancorp shares last traded at $6.28, with a volume of 99,667 shares.
Analyst Ratings Changes
RVSB has been the subject of several recent research reports. Raymond James reissued an "outperform" rating and set a $7.00 price target (up previously from $6.25) on shares of Riverview Bancorp in a research report on Friday, May 2nd. StockNews.com initiated coverage on Riverview Bancorp in a research report on Friday, March 7th. They set a "hold" rating for the company.
Check Out Our Latest Stock Analysis on Riverview Bancorp
Riverview Bancorp Stock Up 0.4%
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 firm has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $5.51. The company has a market cap of $129.53 million, a PE ratio of 154.41 and a beta of 0.50.
Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The savings and loans company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.40 million. Riverview Bancorp had a return on equity of 2.92% and a net margin of 1.13%. Research analysts anticipate that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.
Riverview Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, April 14th. Riverview Bancorp's dividend payout ratio is currently 34.78%.
Riverview Bancorp announced that its Board of Directors has approved a share 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Insider Activity
In other news, major shareholder Martin S. Friedman sold 50,500 shares of Riverview Bancorp stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $5.49, for a total value of $277,245.00. Following the completion of the sale, the insider now owns 186,348 shares of the company's stock, valued at $1,023,050.52. The trade was a 21.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company's stock.
Institutional Investors Weigh In On Riverview Bancorp
Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Riverview Bancorp by 0.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company's stock worth $5,446,000 after purchasing an additional 2,496 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Riverview Bancorp by 1.2% in 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 buying an additional 2,924 shares during the period. Empowered Funds LLC boosted its position in shares of Riverview Bancorp by 5.0% in the fourth quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company's stock worth $540,000 after buying an additional 4,524 shares during the period. Columbia River Financial Group LLC purchased a new stake in shares of Riverview Bancorp in the first quarter worth about $31,000. Finally, Jane Street Group LLC purchased a new stake in shares of Riverview Bancorp in the fourth quarter worth about $87,000. Hedge funds and other institutional investors own 69.60% of the company's stock.
About Riverview Bancorp
(
Get Free Report)
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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