Bank of America Corp DE increased its holdings in Riverview Bancorp, Inc. (NASDAQ:RVSB) by 19.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,578 shares of the savings and loans company’s stock after buying an additional 39,651 shares during the period. Bank of America Corp DE owned about 1.10% of Riverview Bancorp worth $2,097,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of RVSB. Bailard Inc. bought a new position in Riverview Bancorp in the second quarter worth approximately $633,000. Maltese Capital Management LLC acquired a new position in shares of Riverview Bancorp during the second quarter worth $717,000. JPMorgan Chase & Co. increased its position in shares of Riverview Bancorp by 10.9% during the first quarter. JPMorgan Chase & Co. now owns 94,405 shares of the savings and loans company’s stock worth $882,000 after purchasing an additional 9,251 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Riverview Bancorp by 8.5% during the first quarter. Wells Fargo & Company MN now owns 111,862 shares of the savings and loans company’s stock worth $1,045,000 after purchasing an additional 8,753 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Riverview Bancorp by 32.3% during the second quarter. Renaissance Technologies LLC now owns 366,400 shares of the savings and loans company’s stock worth $3,092,000 after purchasing an additional 89,400 shares in the last quarter. 59.54% of the stock is owned by institutional investors.
RVSB has been the topic of a number of recent analyst reports. Zacks Investment Research raised Riverview Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, August 3rd. ValuEngine downgraded Riverview Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd.
Shares of RVSB stock opened at $8.55 on Friday. The firm has a market cap of $192.58 million, a PE ratio of 16.13 and a beta of 0.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 0.86. Riverview Bancorp, Inc. has a 12-month low of $7.02 and a 12-month high of $9.99.
Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings results on Thursday, October 25th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $14.62 million for the quarter, compared to the consensus estimate of $14.20 million. Riverview Bancorp had a return on equity of 12.73% and a net margin of 22.54%. On average, analysts predict that Riverview Bancorp, Inc. will post 0.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Friday, October 12th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, October 11th. Riverview Bancorp’s payout ratio is presently 26.42%.
Riverview Bancorp Company Profile
Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services to small and medium size businesses, professionals, and individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans.
Further Reading: Price to Earnings Ratio (PE) Basics
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