Riverview Bancorp Inc (RVSB) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Riverview Bancorp Inc (NASDAQ:RVSB) from a hold rating to a buy rating in a research report released on Thursday. They currently have $9.00 price target on the savings and loans company’s stock.

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 research report on Friday, June 2nd.

Shares of Riverview Bancorp (RVSB) opened at 8.06 on Thursday. Riverview Bancorp has a 52 week low of $5.01 and a 52 week high of $8.16. The firm has a 50-day moving average price of $7.73 and a 200-day moving average price of $7.29. The stock has a market cap of $181.38 million, a PE ratio of 21.78 and a beta of 0.30.

Riverview Bancorp (NASDAQ:RVSB) last issued its earnings results on Tuesday, July 25th. The savings and loans company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $13.17 million during the quarter, compared to analyst estimates of $13.20 million. Riverview Bancorp had a return on equity of 7.51% and a net margin of 17.19%. On average, analysts forecast that Riverview Bancorp will post $0.52 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Globeflex Capital L P lifted its holdings in shares of Riverview Bancorp by 15,004.8% in the 1st quarter. Globeflex Capital L P now owns 28,397 shares of the savings and loans company’s stock worth $203,000 after purchasing an additional 28,209 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Riverview Bancorp by 78.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,027 shares of the savings and loans company’s stock worth $286,000 after purchasing an additional 17,583 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Riverview Bancorp by 70.1% in the 1st quarter. Bank of New York Mellon Corp now owns 40,552 shares of the savings and loans company’s stock worth $290,000 after purchasing an additional 16,718 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Riverview Bancorp by 44.5% in the 1st quarter. Acadian Asset Management LLC now owns 71,931 shares of the savings and loans company’s stock worth $514,000 after purchasing an additional 22,138 shares during the last quarter. Finally, Segantii Capital Management Ltd lifted its holdings in shares of Riverview Bancorp by 566.1% in the 1st quarter. Segantii Capital Management Ltd now owns 25,978 shares of the savings and loans company’s stock worth $186,000 after purchasing an additional 22,078 shares during the last quarter. 56.03% of the stock is currently owned by institutional investors and hedge funds.

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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