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

Wall Street Zen cut shares of Riverview Bancorp (NASDAQ:RVSB) from a hold rating to a sell rating in a research report released on Saturday.

Separately, Weiss Ratings raised shares of Riverview Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Riverview Bancorp currently has an average rating of “Reduce”.

Riverview Bancorp Price Performance

Riverview Bancorp stock opened at $5.39 on Friday. The stock has a market cap of $108.66 million, a price-to-earnings ratio of -28.37 and a beta of 0.49. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $5.50 and a 200 day simple moving average of $5.42. Riverview Bancorp has a 52 week low of $4.74 and a 52 week high of $6.22.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings results on Tuesday, July 28th. The savings and loans company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $15.01 million for the quarter, compared to analysts’ expectations of $14.80 million. Riverview Bancorp had a positive return on equity of 3.06% and a negative net margin of 5.87%. On average, research analysts forecast that Riverview Bancorp will post 0.28 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.08 annualized dividend and a yield of 1.5%. Riverview Bancorp’s payout ratio is -42.11%.

Insider Activity

In other news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $5.25, for a total value of $26,250.00. Following the completion of the transaction, the insider directly owned 89,388 shares in the company, valued at approximately $469,287. This represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders bought 3,976 shares of company stock valued at $21,338. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Riverview Bancorp

A number of hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Riverview Bancorp by 539.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company’s stock worth $3,161,000 after purchasing an additional 484,804 shares during the period. Geode Capital Management LLC increased its position in shares of Riverview Bancorp by 110.2% during the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock valued at $2,533,000 after buying an additional 241,368 shares during the period. Marshall Wace LLP bought a new position in Riverview Bancorp in the second quarter worth about $913,000. Two Sigma Investments LP raised its stake in Riverview Bancorp by 719.8% in the third quarter. Two Sigma Investments LP now owns 82,440 shares of the savings and loans company’s stock worth $443,000 after buying an additional 72,384 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Riverview Bancorp by 109.0% in the first quarter. Sei Investments Co. now owns 127,602 shares of the savings and loans company’s stock worth $702,000 after buying an additional 66,552 shares during the period. 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.