Riverview Bancorp (NASDAQ:RVSB) Stock Rating Upgraded by Zacks Investment Research

Riverview Bancorp (NASDAQ:RVSB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Riverview Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James decreased their price objective on shares of Riverview Bancorp from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th.

Shares of RVSB stock traded down $0.03 on Tuesday, hitting $7.41. 1,010 shares of the stock traded hands, compared to its average volume of 42,781. The firm has a market cap of $167.23 million, a price-to-earnings ratio of 9.75 and a beta of 0.64. Riverview Bancorp has a 52 week low of $5.46 and a 52 week high of $8.72. The firm has a 50 day simple moving average of $7.36 and a two-hundred day simple moving average of $7.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.96.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $14.61 million for the quarter, compared to the consensus estimate of $14.60 million. Riverview Bancorp had a net margin of 27.67% and a return on equity of 13.03%. Sell-side analysts forecast that Riverview Bancorp will post 0.75 EPS for the current year.

In related news, Director Gerald Lee Nies purchased 10,000 shares of Riverview Bancorp stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $7.58 per share, for a total transaction of $75,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Nierenberg purchased 20,000 shares of Riverview Bancorp stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $6.85 per share, for a total transaction of $137,000.00. The disclosure for this purchase can be found here. 6.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC purchased a new position in Riverview Bancorp during the second quarter valued at $160,000. Wedge Capital Management L L P NC purchased a new position in shares of Riverview Bancorp in the second quarter valued at approximately $364,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Riverview Bancorp by 67.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,375 shares of the savings and loans company’s stock valued at $148,000 after purchasing an additional 6,975 shares during the period. Acadian Asset Management LLC lifted its stake in Riverview Bancorp by 52.2% in the second quarter. Acadian Asset Management LLC now owns 188,621 shares of the savings and loans company’s stock worth $1,611,000 after acquiring an additional 64,725 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Riverview Bancorp by 6.5% in the second quarter. LSV Asset Management now owns 62,500 shares of the savings and loans company’s stock worth $533,000 after acquiring an additional 3,821 shares during the last quarter. Institutional investors own 63.23% of the company’s stock.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services to small and medium size businesses, professionals, and individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans.

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