Riverview Bancorp (NASDAQ:RVSB) Stock Rating Raised to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of Riverview Bancorp (NASDAQ:RVSB) to a moderate buy rating in a research note published on Monday morning,Zacks reports.

Other equities research analysts also recently issued reports about the company. Wall Street Zen raised Riverview Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded shares of Riverview Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Riverview Bancorp has a consensus rating of “Hold”.

Riverview Bancorp Trading Up 0.2%

NASDAQ:RVSB opened at $6.02 on Monday. The company’s 50 day moving average is $5.53 and its 200-day moving average is $5.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.31. Riverview Bancorp has a 12 month low of $4.88 and a 12 month high of $6.22. The firm has a market cap of $120.10 million, a price-to-earnings ratio of -31.68 and a beta of 0.47.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings results on Wednesday, July 29th. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $15.01 million during the quarter, compared to analysts’ expectations of $14.80 million. Riverview Bancorp had a negative net margin of 5.87% and a positive return on equity of 3.12%.

Riverview Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Friday, October 9th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 9th. Riverview Bancorp’s payout ratio is currently -42.11%.

Insider Buying and Selling at Riverview Bancorp

In other Riverview Bancorp news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $5.25, for a total value of $26,250.00. Following the transaction, the insider directly owned 89,388 shares of the company’s stock, valued at approximately $469,287. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 13,465 shares of company stock worth $73,401 over the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Riverview Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Nierenberg Investment Management Company LLC acquired a new stake in Riverview Bancorp in the second quarter worth $11,037,968. BlackRock Inc. bought a new stake in shares of Riverview Bancorp in the second quarter valued at about $7,042,000. The Manufacturers Life Insurance Company bought a new stake in Riverview Bancorp in the 2nd quarter valued at approximately $5,767,000. Empowered Funds LLC bought a new stake in shares of Riverview Bancorp in the second quarter worth $697,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Riverview Bancorp during the 2nd quarter worth about $661,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc is a bank holding company headquartered in Vancouver, Washington. Its principal subsidiary, Riverview Community Bank, provides banking services to individuals, families, businesses and nonprofit organizations.

Riverview Community Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include commercial and industrial loans, commercial real estate financing, construction loans, residential mortgage loans, home equity products and consumer loans.