Riverview Bancorp (NASDAQ:RVSB) Share Price Crosses Above 200-Day Moving Average – What’s Next?
by Kim Johansen · The Markets DailyRiverview Bancorp Inc (NASDAQ:RVSB – Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.27 and traded as high as $5.69. Riverview Bancorp shares last traded at $5.67, with a volume of 33,420 shares traded.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on RVSB. Zacks Research raised shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen upgraded Riverview Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Riverview Bancorp in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.
Check Out Our Latest Stock Analysis on Riverview Bancorp
Riverview Bancorp Stock Down 2.9%
The business has a fifty day moving average of $5.39 and a 200 day moving average of $5.27. The stock has a market cap of $116.80 million, a price-to-earnings ratio of 24.52 and a beta of 0.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.88.
Riverview Bancorp (NASDAQ:RVSB – Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The savings and loans company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Riverview Bancorp had a return on equity of 2.99% and a net margin of 6.41%.The firm had revenue of $14.05 million for the quarter, compared to the consensus estimate of $13.70 million. On average, equities analysts predict that Riverview Bancorp Inc will post 0.2 earnings per share for the current year.
Riverview Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Monday, April 13th will be issued a $0.02 dividend. The ex-dividend date is Monday, April 13th. This represents a $0.08 dividend on an annualized basis and a yield of 1.4%. Riverview Bancorp’s dividend payout ratio is currently 34.78%.
Riverview Bancorp declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 28th that authorizes the company to buyback $4.00 million in outstanding shares. This buyback authorization authorizes the savings and loans company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Hedge Funds Weigh In On Riverview Bancorp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daytona Street Capital LLC acquired a new position in Riverview Bancorp during the fourth quarter valued at approximately $30,000. CWM LLC acquired a new position in Riverview Bancorp during the third quarter valued at approximately $30,000. Raymond James Financial Inc. acquired a new position in Riverview Bancorp during the second quarter valued at approximately $34,000. BNP Paribas Financial Markets grew its holdings in Riverview Bancorp by 122.9% during the third quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock valued at $34,000 after purchasing an additional 3,524 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Riverview Bancorp during the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 69.60% of the company’s stock.
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.