Riverview Bancorp (NASDAQ:RVSB) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Riverview Bancorp Inc (NASDAQ:RVSB)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.17 and traded as high as $5.38. Riverview Bancorp shares last traded at $5.32, with a volume of 37,526 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on RVSB shares. Wall Street Zen raised Riverview Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Riverview Bancorp in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research report 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Riverview Bancorp Price Performance

The firm has a market cap of $110.39 million, a PE ratio of 23.13 and a beta of 0.62. The firm has a fifty day simple moving average of $5.20 and a two-hundred day simple moving average of $5.17. 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 issued its quarterly earnings data on Tuesday, January 27th. The savings and loans company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $14.05 million for the quarter, compared to analysts’ expectations of $13.70 million. Riverview Bancorp had a return on equity of 3.00% and a net margin of 6.41%. Equities analysts predict that Riverview Bancorp Inc will post 0.2 EPS for the current fiscal year.

Riverview Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, January 5th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.08 dividend on an annualized basis and a yield of 1.5%. Riverview Bancorp’s dividend payout ratio is presently 34.78%.

Riverview Bancorp declared that its board has approved a stock buyback plan on Wednesday, January 28th that allows the company to buyback $4.00 million in shares. This buyback authorization allows the savings and loans company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Riverview Bancorp

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of Riverview Bancorp by 7.4% in the 1st quarter. Empowered Funds LLC now owns 101,394 shares of the savings and loans company’s stock valued at $573,000 after acquiring an additional 6,988 shares during the last quarter. Jane Street Group LLC raised its position in Riverview Bancorp by 204.1% during the first quarter. Jane Street Group LLC now owns 46,318 shares of the savings and loans company’s stock valued at $262,000 after purchasing an additional 31,085 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Riverview Bancorp in the 2nd quarter valued at approximately $126,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Riverview Bancorp in the 2nd quarter valued at approximately $249,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Riverview Bancorp by 110.2% in the 2nd quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock worth $2,533,000 after purchasing an additional 241,368 shares during the period. 69.60% of the stock is currently owned by institutional investors.

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.