Short Interest in Riverview Bancorp Inc (NASDAQ:RVSB) Drops By 83.2%

Riverview Bancorp Inc (NASDAQ:RVSB) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 72,736 shares, a decline of 83.2% from the June 15th total of 433,773 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 358,388 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Riverview Bancorp

A number of large investors have recently bought and sold shares of RVSB. Daytona Street Capital LLC acquired a new position in Riverview Bancorp in the fourth quarter valued at approximately $30,000. Raymond James Financial Inc. purchased a new position in Riverview Bancorp during the second quarter worth about $34,000. BNP Paribas Financial Markets boosted its position in Riverview Bancorp by 122.9% in the third quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 3,524 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Riverview Bancorp in the second quarter worth about $53,000. Finally, Intech Investment Management LLC purchased a new stake in Riverview Bancorp in the third quarter worth $55,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on RVSB shares. Weiss Ratings cut Riverview Bancorp from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Wall Street Zen upgraded Riverview Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Riverview Bancorp Price Performance

Shares of RVSB traded up $0.05 during mid-day trading on Monday, reaching $5.33. The company had a trading volume of 83,733 shares, compared to its average volume of 212,496. The company has a market capitalization of $108.09 million, a price-to-earnings ratio of -25.38 and a beta of 0.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 0.94. The company’s 50 day simple moving average is $5.54 and its 200 day simple moving average is $5.39. Riverview Bancorp has a 1-year low of $4.74 and a 1-year high of $6.22.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Thursday, April 30th. The savings and loans company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $13.50 million during the quarter, compared to the consensus estimate of $14.10 million. Riverview Bancorp had a negative net margin of 6.70% and a positive return on equity of 2.74%. Analysts expect that Riverview Bancorp will post 0.32 EPS for the current year.

Riverview Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, July 9th. Riverview Bancorp’s dividend payout ratio (DPR) is presently -38.10%.

Riverview Bancorp Company Profile

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.