Riverview Bancorp (NASDAQ:RVSB) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Riverview Bancorp's share price has surpassed its 200-day moving average of $5.61, indicating potential growth momentum as it traded as high as $5.63.
• Raymond James Financial has updated its target price for Riverview Bancorp's shares to $7.00, reflecting an increase from a previous target of $6.25.
• The company announced a stock repurchase plan allowing for the buyback of $2.00 million in shares, suggesting confidence in its stock valuation.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.61 and traded as high as $5.63. Riverview Bancorp shares last traded at $5.39, with a volume of 70,070 shares changing hands.

Analyst Upgrades and Downgrades

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

Riverview Bancorp Stock Performance

The stock has a market cap of $113.19 million, a PE ratio of 23.54 and a beta of 0.45. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $5.57 and a 200 day moving average of $5.61.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last posted its earnings results 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. The company had revenue of $12.90 million during the quarter, compared to analysts' expectations of $12.40 million. Riverview Bancorp had a return on equity of 3.09% and a net margin of 6.70%. Equities analysts predict that Riverview Bancorp Inc will post 0.2 EPS for the current fiscal year.

Riverview Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Thursday, July 10th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, July 10th. This represents a $0.08 annualized dividend and a yield of 1.48%. Riverview Bancorp's dividend payout ratio (DPR) is 34.78%.

Riverview Bancorp announced that its board has initiated a stock 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 shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Riverview Bancorp

A number of institutional investors have recently modified their holdings of the company. Nierenberg Investment Management Company Inc. lifted its holdings in Riverview Bancorp by 21.3% during 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 buying an additional 225,822 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Riverview Bancorp by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 943,332 shares of the savings and loans company's stock worth $5,415,000 after purchasing an additional 141,400 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in Riverview Bancorp by 17.0% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 761,908 shares of the savings and loans company's stock valued at $4,305,000 after purchasing an additional 110,466 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Riverview Bancorp in the 4th quarter valued at $224,000. Finally, Jane Street Group LLC grew its stake in shares of Riverview Bancorp by 204.1% during the first quarter. Jane Street Group LLC now owns 46,318 shares of the savings and loans company's stock valued at $262,000 after acquiring an additional 31,085 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.