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

Riverview Bancorp Inc (NASDAQ:RVSB)’s stock price passed 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 changing hands.

Analysts Set New Price Targets

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

Riverview Bancorp Stock Down 1.1%

The firm has a market cap of $110.80 million, a price-to-earnings ratio of 23.26 and a beta of 0.62. 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 fifty day moving average price of $5.22 and a 200-day moving average price of $5.20.

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

Riverview Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors 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 was Monday, January 5th. Riverview Bancorp’s payout ratio is presently 34.78%.

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

Institutional Investors Weigh In On Riverview Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in RVSB. Nierenberg Investment Management Company Inc. lifted 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 valued at $10,658,000 after acquiring an additional 304,741 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Riverview Bancorp in the second quarter valued at about $249,000. Bank of America Corp DE raised its position in Riverview Bancorp by 9.4% in the second quarter. Bank of America Corp DE now owns 87,449 shares of the savings and loans company’s stock valued at $481,000 after purchasing an additional 7,539 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Riverview Bancorp during the second quarter worth about $34,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Riverview Bancorp in the second quarter worth about $88,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.