Riverview Bancorp Inc (NASDAQ:RVSB) Upgraded to “Hold” by Zacks Investment Research

Riverview Bancorp Inc (NASDAQ:RVSB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, July 5th.

According to Zacks, “Riverview Bancorp, Inc. is a holding company for Riverview Savings Bank. The bank is a community oriented financial institution offering traditional financial services to the residents of its primary market area. The bank is engaged in the business of attracting deposits from the public and using such funds to originate fixed-rate mortgage loans and adjustable rate mortgage loans secured by one- to- four family residential real estate located in its primary market area. The bank is an active originator of residential construction loans and consumer loans. “

Separately, ValuEngine upgraded Riverview Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.

Shares of Riverview Bancorp (NASDAQ:RVSB) opened at 7.64 on Wednesday. The firm has a 50-day moving average price of $6.90 and a 200-day moving average price of $7.24. Riverview Bancorp has a 1-year low of $4.69 and a 1-year high of $8.16. The company has a market cap of $171.79 million, a P/E ratio of 23.22 and a beta of 0.27.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Riverview Bancorp had a return on equity of 7.56% and a net margin of 17.19%. The business had revenue of $13.17 million during the quarter, compared to the consensus estimate of $13.20 million. On average, equities analysts expect that Riverview Bancorp will post $0.50 EPS for the current year.

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In other Riverview Bancorp news, Director Ancora Advisors, Llc sold 900,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $6.50, for a total value of $5,850,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.41% of the company’s stock.

A number of institutional investors have recently bought and sold shares of RVSB. Goldman Sachs Group Inc. boosted its position in Riverview Bancorp by 27.4% in the first quarter. Goldman Sachs Group Inc. now owns 18,776 shares of the savings and loans company’s stock worth $134,000 after buying an additional 4,038 shares during the last quarter. ClariVest Asset Management LLC bought a new position in shares of Riverview Bancorp during the first quarter valued at approximately $150,000. Segantii Capital Management Ltd boosted its position in shares of Riverview Bancorp by 566.1% in the first quarter. Segantii Capital Management Ltd now owns 25,978 shares of the savings and loans company’s stock valued at $186,000 after buying an additional 22,078 shares during the last quarter. Globeflex Capital L P boosted its position in shares of Riverview Bancorp by 15,004.8% in the first quarter. Globeflex Capital L P now owns 28,397 shares of the savings and loans company’s stock valued at $203,000 after buying an additional 28,209 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Riverview Bancorp by 65.0% in the first quarter. JPMorgan Chase & Co. now owns 33,417 shares of the savings and loans company’s stock valued at $239,000 after buying an additional 13,159 shares during the last quarter. 53.88% of the stock is owned by institutional investors.

About Riverview Bancorp

Riverview Bancorp, Inc (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Company operates through two segments, which include banking operations performed by the Bank and trust and investment services performed by Riverview Asset Management Corp. (RAMCorp).

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