Riverview Bancorp, Inc. (NASDAQ:RVSB) Short Interest Update

Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 79,700 shares, a growth of 129.0% from the May 15th total of 34,800 shares. Approximately 0.4% of the company's stock are short sold. Based on an average daily volume of 152,300 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Several analysts recently commented on RVSB shares. Raymond James reissued an "outperform" rating and set a $7.00 price objective (up from $6.25) on shares of Riverview Bancorp in a research report on Friday, May 2nd. Wall Street Zen began coverage on shares of Riverview Bancorp in a report on Friday, March 7th. They set a "hold" rating on the stock.

Riverview Bancorp Stock Performance

Shares of NASDAQ RVSB traded down $0.01 during trading on Friday, reaching $5.39. 91,882 shares of the company traded hands, compared to its average volume of 65,884. The firm has a 50 day simple moving average of $5.85 and a 200-day simple moving average of $5.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $113.06 million, a PE ratio of 134.78 and a beta of 0.47. Riverview Bancorp has a 52-week low of $3.30 and a 52-week high of $6.59.

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 firm 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 1.13% and a return on equity of 2.92%. Equities research analysts anticipate that Riverview Bancorp will post 0.2 earnings per share for the current year.

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

Riverview Bancorp Announces Dividend

The business also recently declared 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. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, April 14th. Riverview Bancorp's payout ratio is presently 34.78%.

Hedge Funds Weigh In On Riverview Bancorp

Several institutional investors have recently made changes to their positions in RVSB. Empowered Funds LLC lifted its stake in shares of Riverview Bancorp by 5.0% in the 4th quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company's stock worth $540,000 after purchasing an additional 4,524 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of Riverview Bancorp by 2.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 651,442 shares of the savings and loans company's stock worth $3,739,000 after purchasing an additional 15,395 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Riverview Bancorp in the 4th quarter worth approximately $224,000. Nierenberg Investment Management Company Inc. lifted its stake in shares of Riverview Bancorp by 21.3% in 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 purchasing an additional 225,822 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Riverview Bancorp by 0.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company's stock worth $5,446,000 after purchasing an additional 2,496 shares during the period. Institutional investors 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.