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

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

A number of other equities analysts have also recently issued reports on RVSB. Zacks Research upgraded Riverview Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Riverview Bancorp in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Riverview Bancorp Price Performance

RVSB opened at $5.42 on Friday. The company has a fifty day moving average price of $5.21 and a two-hundred day moving average price of $5.17. The firm has a market capitalization of $112.47 million, a PE ratio of 23.57 and a beta of 0.62. Riverview Bancorp has a 52 week low of $4.74 and a 52 week high of $6.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 0.86.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings results on Thursday, January 29th. The savings and loans company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Riverview Bancorp had a return on equity of 3.00% 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 anticipate that Riverview Bancorp will post 0.2 earnings per share for the current year.

Riverview Bancorp announced that its board has approved a stock repurchase plan 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 purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Riverview Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nierenberg Investment Management Company Inc. grew its holdings 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 worth $10,658,000 after purchasing an additional 304,741 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Riverview Bancorp in the second quarter valued at about $249,000. Ritholtz Wealth Management bought a new stake in Riverview Bancorp during the second quarter worth about $126,000. Pacific Ridge Capital Partners LLC lifted its position in Riverview Bancorp by 10.4% during the third quarter. Pacific Ridge Capital Partners LLC now owns 699,506 shares of the savings and loans company’s stock worth $3,756,000 after purchasing an additional 66,052 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Riverview Bancorp during the second quarter worth about $34,000. 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.