Zacks Investment Research Upgrades Riverview Bancorp Inc. (RVSB) to Buy
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 brokerage presently has a $6.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 11.73% from the company’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. raised Riverview Bancorp from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a report on Friday, September 30th.
Shares of Riverview Bancorp (NASDAQ:RVSB) traded up 0.9777% during mid-day trading on Wednesday, hitting $5.4225. The stock had a trading volume of 924 shares. The stock’s 50-day moving average price is $5.21 and its 200 day moving average price is $4.79. Riverview Bancorp has a 1-year low of $4.15 and a 1-year high of $5.53. The company has a market capitalization of $121.83 million, a P/E ratio of 18.8281 and a beta of 0.28.
Riverview Bancorp (NASDAQ:RVSB) last posted its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Riverview Bancorp had a return on equity of 5.99% and a net margin of 15.76%. On average, analysts predict that Riverview Bancorp will post $0.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Friday, October 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.49%. Riverview Bancorp’s payout ratio is 27.59%.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased 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 valued at $108,000 after buying an additional 820 shares in the last quarter. BlackRock Fund Advisors increased 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 valued at $300,000 after buying an additional 4,352 shares in the last quarter. Alliancebernstein L.P. increased 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 valued at $2,215,000 after buying an additional 34,270 shares in the last quarter. Maltese Capital Management LLC increased 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 valued at $3,045,000 after buying an additional 13,300 shares in the last quarter. Finally, PL Capital Advisors LLC acquired a new stake in shares of Riverview Bancorp during the second quarter valued at $3,385,000. 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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