Riverview Bancorp (NASDAQ:RVSB) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.41 and traded as high as $5.94. Riverview Bancorp shares last traded at $5.91, with a volume of 52,871 shares changing hands.

Analyst Upgrades and Downgrades

RVSB has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on shares of Riverview Bancorp in a research report on Friday, March 7th. They issued a "hold" rating on the stock. Raymond James restated an "outperform" rating and issued a $7.00 target price (up previously from $6.25) on shares of Riverview Bancorp in a report on Friday.

Riverview Bancorp Trading Down 0.3 %

The firm has a 50-day moving average of $5.60 and a 200 day moving average of $5.45. The company has a market cap of $133.83 million, a P/E ratio of 159.54 and a beta of 0.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.72.

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 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. The company had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.40 million. On average, analysts predict that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.25%. Riverview Bancorp's dividend payout ratio is currently 34.78%.

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

Insider Activity at Riverview Bancorp

In other Riverview Bancorp news, major shareholder Martin S. Friedman sold 50,500 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total transaction of $277,245.00. Following the completion of the sale, the insider now owns 186,348 shares in the company, valued at approximately $1,023,050.52. The trade was a 21.32 % decrease in their position. 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 corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Columbia River Financial Group LLC bought a new position in Riverview Bancorp in the 1st quarter valued at about $31,000. Jane Street Group LLC purchased a new stake in shares of Riverview Bancorp in the fourth quarter worth approximately $87,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Riverview Bancorp in the fourth quarter valued at approximately $224,000. Empowered Funds LLC boosted its position 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 buying an additional 4,524 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Riverview Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 209,781 shares of the savings and loans company's stock worth $988,000 after buying an additional 5,551 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.