Riverview Bancorp (NASDAQ:RVSB) Cut to Sell at Wall Street Zen

Riverview Bancorp (NASDAQ:RVSB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other analysts have also recently commented on the stock. Zacks Research upgraded shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Riverview Bancorp in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Riverview Bancorp has an average rating of “Hold” and an average price target of $7.00.

Riverview Bancorp Stock Performance

Shares of NASDAQ:RVSB opened at $5.42 on Friday. The firm’s 50 day simple moving average is $5.21 and its 200 day simple moving average is $5.17. Riverview Bancorp has a fifty-two week low of $4.74 and a fifty-two week high of $6.59. The company has a market capitalization of $112.47 million, a price-to-earnings ratio of 23.57 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.86 and a quick ratio of 0.86.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Thursday, January 29th. The savings and loans company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $14.05 million during the quarter, compared to analysts’ expectations of $13.70 million. Riverview Bancorp had a net margin of 6.41% and a return on equity of 3.00%. As a group, sell-side analysts forecast that Riverview Bancorp will post 0.2 earnings per share for the current year.

Riverview Bancorp announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 28th that permits the company to repurchase $4.00 million in outstanding shares. This repurchase authorization permits the savings and loans company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Riverview Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in Riverview Bancorp by 539.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company’s stock worth $3,161,000 after acquiring an additional 484,804 shares during the last quarter. Nierenberg Investment Management Company Inc. raised its holdings in shares of Riverview Bancorp by 18.7% in the second quarter. Nierenberg Investment Management Company Inc. now owns 1,937,775 shares of the savings and loans company’s stock valued at $10,658,000 after purchasing an additional 304,741 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Riverview Bancorp by 110.2% in the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock worth $2,533,000 after purchasing an additional 241,368 shares in the last quarter. Marshall Wace LLP acquired a new position in Riverview Bancorp during the second quarter worth $913,000. Finally, Two Sigma Investments LP grew its position in Riverview Bancorp by 719.8% in the third quarter. Two Sigma Investments LP now owns 82,440 shares of the savings and loans company’s stock valued at $443,000 after purchasing an additional 72,384 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

About Riverview Bancorp

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.