Riverview Bancorp (NASDAQ:RVSB) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Riverview Bancorp Inc (NASDAQ:RVSB)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.19 and traded as high as $5.42. Riverview Bancorp shares last traded at $5.35, with a volume of 64,288 shares.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RVSB. Weiss Ratings reissued a “hold (c)” rating on shares of Riverview Bancorp in a research report on Thursday, January 22nd. Zacks Research raised Riverview Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Riverview Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Riverview Bancorp currently has an average rating of “Hold” and an average price target of $7.00.

Riverview Bancorp Stock Down 1.1%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $110.80 million, a price-to-earnings ratio of 23.26 and a beta of 0.62. The stock has a 50 day moving average of $5.22 and a 200 day moving average of $5.19.

Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Thursday, January 29th. The savings and loans company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Riverview Bancorp had a return on equity of 2.99% and a net margin of 6.41%.The company had revenue of $14.05 million for the quarter, compared to the consensus estimate of $13.70 million. As a group, analysts expect that Riverview Bancorp Inc will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

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

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

Institutional Investors Weigh In On Riverview Bancorp

Institutional investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in Riverview Bancorp by 4.0% in the fourth quarter. Barclays PLC now owns 86,231 shares of the savings and loans company’s stock worth $433,000 after acquiring an additional 3,325 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Riverview Bancorp by 122.9% during the third quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock valued at $34,000 after purchasing an additional 3,524 shares during the last quarter. American Century Companies Inc. raised its position in shares of Riverview Bancorp by 3.8% during the 2nd quarter. American Century Companies Inc. now owns 115,638 shares of the savings and loans company’s stock worth $636,000 after purchasing an additional 4,206 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Riverview Bancorp by 4.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 122,631 shares of the savings and loans company’s stock worth $616,000 after purchasing an additional 5,359 shares during the last quarter. Finally, CWM LLC bought a new stake in shares of Riverview Bancorp in the 3rd quarter worth approximately $30,000. Institutional investors 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.