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

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.62 and traded as high as $5.74. Riverview Bancorp shares last traded at $5.70, with a volume of 195,467 shares traded.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reiterated an "outperform" rating and set a $7.00 price target (up previously from $6.25) on shares of Riverview Bancorp in a research note on Friday, May 2nd.

Riverview Bancorp Stock Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $5.65 and its two-hundred day moving average is $5.62. The company has a market cap of $114.13 million, a PE ratio of 23.65 and a beta of 0.45.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The savings and loans company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The company had revenue of $12.90 million for the quarter, compared to the consensus estimate of $12.40 million. Riverview Bancorp had a net margin of 6.70% and a return on equity of 3.09%. On average, equities research analysts anticipate that Riverview Bancorp Inc will post 0.2 EPS for the current year.

Riverview Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Thursday, July 10th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $0.08 annualized dividend and a yield of 1.47%. Riverview Bancorp's payout ratio is 34.78%.

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

Hedge Funds Weigh In On Riverview Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Columbia River Financial Group LLC purchased a new stake in Riverview Bancorp during the first quarter valued at approximately $31,000. Jane Street Group LLC purchased a new position in shares of Riverview Bancorp in the fourth quarter worth about $87,000. Arrowstreet Capital Limited Partnership purchased a new position in Riverview Bancorp during the fourth quarter worth about $224,000. Empowered Funds LLC increased its position in shares of Riverview Bancorp by 7.4% during the first quarter. Empowered Funds LLC now owns 101,394 shares of the savings and loans company's stock valued at $573,000 after acquiring an additional 6,988 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position 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 valued at $1,460,000 after acquiring an additional 2,924 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.

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.