Zacks Investment Research upgraded shares of Riverview Bancorp Inc (NASDAQ:RVSB) from a hold rating to a buy rating in a report released on Thursday, August 3rd. Zacks Investment Research currently has $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 raised Riverview Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd.
Shares of Riverview Bancorp (NASDAQ RVSB) traded down 0.12% during trading on Thursday, hitting $8.00. The company had a trading volume of 40,415 shares. The stock has a market capitalization of $180.03 million, a P/E ratio of 21.62 and a beta of 0.28. Riverview Bancorp has a 52 week low of $4.91 and a 52 week high of $8.16. The firm’s 50 day moving average is $7.35 and its 200-day moving average is $7.26.
Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Riverview Bancorp had a return on equity of 7.51% and a net margin of 17.19%. The company had revenue of $13.17 million during the quarter, compared to analyst estimates of $13.20 million. Equities research analysts anticipate that Riverview Bancorp will post $0.52 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, July 14th were paid a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.13%. This is a positive change from Riverview Bancorp’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, July 12th. Riverview Bancorp’s dividend payout ratio (DPR) is presently 24.32%.
In other news, Director Ancora Advisors, Llc sold 900,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $6.50, for a total value of $5,850,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.41% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Riverview Bancorp by 158.7% in the second quarter. Vanguard Group Inc. now owns 649,982 shares of the savings and loans company’s stock valued at $4,316,000 after buying an additional 398,692 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in Riverview Bancorp by 25.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,354,537 shares of the savings and loans company’s stock valued at $8,994,000 after buying an additional 271,916 shares during the last quarter. Thomson Horstmann & Bryant Inc. bought a new stake in Riverview Bancorp during the first quarter valued at about $1,864,000. Banc Funds Co. LLC raised its stake in Riverview Bancorp by 44.5% in the second quarter. Banc Funds Co. LLC now owns 746,574 shares of the savings and loans company’s stock valued at $4,957,000 after buying an additional 230,000 shares during the last quarter. Finally, State Street Corp raised its stake in Riverview Bancorp by 1,923.2% in the second quarter. State Street Corp now owns 231,349 shares of the savings and loans company’s stock valued at $1,535,000 after buying an additional 219,914 shares during the last quarter. 55.59% of the stock is 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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