Short Interest in Riverview Bancorp Inc (NASDAQ:RVSB) Declines By 83.2%

Key Points

• Short interest in Riverview Bancorp plunged 83.2% in June, falling to 72,736 shares as of June 30 from 433,773 on June 15. That leaves just 0.4% of the stock sold short and a very low days-to-cover ratio of 0.2.
• Institutional investors remain heavily involved, with hedge funds and asset managers such as Renaissance Technologies, Dimensional Fund Advisors, and Bank of America Corp DE increasing their stakes in the company. Institutions now own 69.6% of Riverview Bancorp shares.
• The stock has been under pressure operationally and sentiment-wise: Riverview recently missed quarterly EPS and revenue estimates, and analysts currently have a consensus rating of “Reduce.” The company also declared a small quarterly dividend of $0.02 per share, yielding about 1.5% annually.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 72,736 shares, a decline of 83.2% from the June 15th total of 433,773 shares. Currently, 0.4% of the company's stock are sold short. Based on an average trading volume of 358,388 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Riverview Bancorp

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Riverview Bancorp by 11.0% during the first quarter. Bank of America Corp DE now owns 131,533 shares of the savings and loans company's stock valued at $723,000 after acquiring an additional 13,070 shares during the period. Renaissance Technologies LLC lifted its position in shares of Riverview Bancorp by 21.1% in the 1st quarter. Renaissance Technologies LLC now owns 319,207 shares of the savings and loans company's stock worth $1,756,000 after acquiring an additional 55,700 shares during the period. Sei Investments Co. grew its holdings in shares of Riverview Bancorp by 109.0% during the 1st quarter. Sei Investments Co. now owns 127,602 shares of the savings and loans company's stock worth $702,000 after purchasing an additional 66,552 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Riverview Bancorp by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,336,020 shares of the savings and loans company's stock worth $7,349,000 after purchasing an additional 15,745 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Riverview Bancorp by 124.9% during the first quarter. Hsbc Holdings PLC now owns 36,101 shares of the savings and loans company's stock valued at $201,000 after purchasing an additional 20,052 shares during the period. Institutional investors own 69.60% of the company's stock.

Riverview Bancorp Stock Performance

RVSB stock traded up $0.03 during mid-day trading on Friday, reaching $5.28. 102,779 shares of the stock traded hands, compared to its average volume of 209,079. The firm has a market capitalization of $107.08 million, a PE ratio of -25.14 and a beta of 0.48. The business has a 50-day moving average of $5.54 and a two-hundred day moving average of $5.39. Riverview Bancorp has a 52 week low of $4.74 and a 52 week high of $6.22. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.31.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The savings and loans company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $13.50 million for the quarter, compared to analyst estimates of $14.10 million. Riverview Bancorp had a positive return on equity of 2.74% and a negative net margin of 6.70%. As a group, equities analysts predict that Riverview Bancorp will post 0.32 EPS for the current fiscal year.

Riverview Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.5%. The ex-dividend date is Thursday, July 9th. Riverview Bancorp's dividend payout ratio (DPR) is currently -38.10%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of Riverview Bancorp from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday. Wall Street Zen lowered Riverview Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce".

About Riverview Bancorp

Riverview Bancorp, Inc NASDAQ: RVSB is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company's deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.

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