Riverview Bancorp Inc. (RVSB) Stock Rating Upgraded by Zacks Investment Research
Riverview Bancorp Inc. (NASDAQ:RVSB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $6.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 9.09% from the stock’s previous close.
According to Zacks, “Riverview Bancorp, Inc. is a holding company for Riverview Savings Bank. The bank is a community oriented financial institution offering traditional financial services to the residents of its primary market area. The bank is engaged in the business of attracting deposits from the public and using such funds to originate fixed-rate mortgage loans and adjustable rate mortgage loans secured by one- to- four family residential real estate located in its primary market area. The bank is an active originator of residential construction loans and consumer loans. “
Separately, Raymond James Financial Inc. upgraded shares of Riverview Bancorp from a “market perform” rating to an “outperform” rating and set a $6.00 price objective on the stock in a report on Friday, September 30th.
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Riverview Bancorp (NASDAQ:RVSB) traded up 2.23% during trading on Wednesday, hitting $5.50. The company had a trading volume of 67,326 shares. The company’s 50 day moving average price is $5.25 and its 200-day moving average price is $4.81. The company has a market cap of $123.57 million, a PE ratio of 19.10 and a beta of 0.28. Riverview Bancorp has a 12 month low of $4.15 and a 12 month high of $5.67.
Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Riverview Bancorp had a net margin of 15.76% and a return on equity of 5.99%. Equities analysts expect that Riverview Bancorp will post $0.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, October 14th will be issued a $0.02 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.08 dividend on an annualized basis and a yield of 1.45%. Riverview Bancorp’s dividend payout ratio is currently 27.59%.
A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Riverview Bancorp by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 22,762 shares of the company’s stock worth $108,000 after buying an additional 820 shares during the period. PL Capital Advisors LLC bought a new stake in shares of Riverview Bancorp during the second quarter worth about $3,385,000. BlackRock Fund Advisors raised its stake in shares of Riverview Bancorp by 7.4% in the second quarter. BlackRock Fund Advisors now owns 63,459 shares of the company’s stock worth $300,000 after buying an additional 4,352 shares during the period. Alliancebernstein L.P. raised its stake in shares of Riverview Bancorp by 7.9% in the second quarter. Alliancebernstein L.P. now owns 468,203 shares of the company’s stock worth $2,215,000 after buying an additional 34,270 shares during the period. Finally, Maltese Capital Management LLC raised its stake in shares of Riverview Bancorp by 2.1% in the second quarter. Maltese Capital Management LLC now owns 643,700 shares of the company’s stock worth $3,045,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 51.38% of the company’s stock.
Riverview Bancorp Company Profile
Riverview Bancorp, Inc (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Bank is engaged primarily in the business of attracting deposits from the general public and using such funds, together with other borrowings, to invest in various commercial business, commercial real estate, multi-family real estate, real estate construction, residential real estate and consumer loans.
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