Riverview Bancorp (NASDAQ:RVSB) Raised to “Hold” at Wall Street Zen

Riverview Bancorp (NASDAQ:RVSB) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently weighed in on RVSB. Zacks Research upgraded 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 equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

Riverview Bancorp Stock Down 0.8%

RVSB opened at $5.17 on Friday. The business’s fifty day simple moving average is $5.18 and its 200 day simple moving average is $5.17. Riverview Bancorp has a 52 week low of $4.74 and a 52 week high of $6.59. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.50. The stock has a market cap of $107.28 million, a PE ratio of 22.48 and a beta of 0.62.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings results on Tuesday, January 27th. The savings and loans company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. Riverview Bancorp had a return on equity of 3.00% and a net margin of 6.41%.The firm had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.70 million. As a group, research analysts expect that Riverview Bancorp will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 28th that permits the company to buyback $4.00 million in shares. This buyback authorization permits the savings and loans company to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Riverview Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Nierenberg Investment Management Company Inc. boosted its holdings in shares of Riverview Bancorp by 4.9% during the third quarter. Nierenberg Investment Management Company Inc. now owns 2,032,775 shares of the savings and loans company’s stock worth $10,916,000 after purchasing an additional 95,000 shares during the period. Pacific Ridge Capital Partners LLC raised its position in Riverview Bancorp by 10.4% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 699,506 shares of the savings and loans company’s stock valued at $3,756,000 after purchasing an additional 66,052 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Riverview Bancorp by 1.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 581,943 shares of the savings and loans company’s stock worth $3,125,000 after buying an additional 7,220 shares during the period. Geode Capital Management LLC grew its position in shares of Riverview Bancorp by 110.2% in the 2nd quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock worth $2,533,000 after buying an additional 241,368 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in shares of Riverview Bancorp by 3.5% during the third quarter. Essex Investment Management Co. LLC now owns 392,296 shares of the savings and loans company’s stock valued at $2,107,000 after buying an additional 13,107 shares during the period. 69.60% of the stock is owned by institutional investors.

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.