Riverview Bancorp (NASDAQ:RVSB) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Riverview Bancorp Inc (NASDAQ:RVSB) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.17 and traded as high as $5.38. Riverview Bancorp shares last traded at $5.32, with a volume of 37,526 shares.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Riverview Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Riverview Bancorp in a report on Thursday, January 22nd. Finally, Zacks Research upgraded Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Riverview Bancorp Stock Down 1.7%

The company’s 50 day moving average price is $5.20 and its two-hundred day moving average price is $5.17. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The firm has a market cap of $110.39 million, a PE ratio of 23.13 and a beta of 0.62.

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

Riverview Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Monday, January 5th were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. Riverview Bancorp’s dividend payout ratio (DPR) is 34.78%.

Riverview Bancorp declared that its board has approved a stock repurchase program on Wednesday, January 28th that authorizes the company to repurchase $4.00 million in outstanding shares. This repurchase authorization authorizes the savings and loans company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Riverview Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nierenberg Investment Management Company Inc. raised its position in shares of Riverview Bancorp by 18.7% during the 2nd 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 period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Riverview Bancorp in the 2nd quarter worth $249,000. Ritholtz Wealth Management purchased a new stake in Riverview Bancorp in the 2nd quarter worth $126,000. Baker Ellis Asset Management LLC raised its holdings in Riverview Bancorp by 173.3% during the fourth quarter. Baker Ellis Asset Management LLC now owns 41,000 shares of the savings and loans company’s stock valued at $206,000 after acquiring an additional 26,000 shares during the period. Finally, Daytona Street Capital LLC purchased a new position in shares of Riverview Bancorp in the fourth quarter valued at about $30,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

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.