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

Shares of Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) passed 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.

Analysts Set New Price Targets

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

Riverview Bancorp Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.87. The company's 50 day moving average is $5.71 and its 200 day moving average is $5.62. The stock has a market cap of $119.59 million, a price-to-earnings ratio of 24.78 and a beta of 0.45.

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, beating the consensus estimate of $0.03 by $0.02. Riverview Bancorp had a net margin of 6.70% and a return on equity of 3.09%. The firm had revenue of $12.90 million during the quarter, compared to analysts' expectations of $12.40 million. Research analysts forecast that Riverview Bancorp Inc will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Thursday, July 10th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, July 10th. Riverview Bancorp's payout ratio is currently 34.78%.

Riverview Bancorp declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 29th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the savings and loans company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Riverview Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Columbia River Financial Group LLC acquired a new position in Riverview Bancorp during the first quarter worth about $31,000. Jane Street Group LLC acquired a new position in Riverview Bancorp during the fourth quarter worth about $87,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Riverview Bancorp during the fourth quarter worth about $224,000. Empowered Funds LLC grew its holdings 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 worth $573,000 after buying an additional 6,988 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew 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 buying 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.

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