Wall Street Zen Downgrades Riverview Bancorp (NASDAQ:RVSB) to Sell

Key Points

• Wall Street Zen downgraded Riverview Bancorp (NASDAQ:RVSB) from a "hold" to a sell, while the stock's average analyst rating remains "Hold."
• Riverview missed last quarter's expectations, reporting $0.03 EPS vs. a $0.05 estimate and revenue of $2.15 million versus $14.10 million expected, with a negative net margin of 6.7%.
• The board authorized a $4.00 million buyback (about 3.8% of shares); the company has a market cap of roughly $109 million and ~69.6% institutional ownership.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Riverview Bancorp in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

Riverview Bancorp Stock Performance

Shares of NASDAQ RVSB opened at $5.27 on Friday. The business has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $5.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $109.14 million, a price-to-earnings ratio of -25.10 and a beta of 0.46. Riverview Bancorp has a one year low of $4.74 and a one year high of $6.59.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last issued its earnings results on Tuesday, April 28th. The savings and loans company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The firm had revenue of $2.15 million during the quarter, compared to analyst estimates of $14.10 million. Riverview Bancorp had a negative net margin of 6.70% and a positive return on equity of 2.67%. Sell-side analysts expect that Riverview Bancorp will post 0.32 EPS for the current year.

Riverview Bancorp announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 28th that allows the company to repurchase $4.00 million in shares. This repurchase authorization allows the savings and loans company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Institutional Trading of Riverview Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nierenberg Investment Management Company Inc. increased its stake in shares of Riverview Bancorp by 4.9% in the third quarter. Nierenberg Investment Management Company Inc. now owns 2,032,775 shares of the savings and loans company's stock valued at $10,916,000 after buying an additional 95,000 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Riverview Bancorp by 42.3% in the fourth quarter. Wells Fargo & Company MN now owns 24,369 shares of the savings and loans company's stock valued at $122,000 after buying an additional 7,245 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Riverview Bancorp in the third quarter valued at $101,000. New York State Common Retirement Fund acquired a new stake in shares of Riverview Bancorp in the second quarter valued at $100,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Riverview Bancorp in the second quarter valued at $88,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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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