Riverview Bancorp (NASDAQ:RVSB) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Riverview Bancorp (NASDAQ:RVSBGet Rating) in a report issued on Monday morning. The brokerage issued a buy rating on the savings and loans company’s stock.

Riverview Bancorp Trading Up 1.2 %

NASDAQ:RVSB opened at $7.60 on Monday. The company has a market capitalization of $163.48 million, a PE ratio of 8.54 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.20. Riverview Bancorp has a 52-week low of $6.08 and a 52-week high of $8.05. The stock has a fifty day simple moving average of $6.73 and a 200-day simple moving average of $6.78.

Riverview Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 24th. Investors of record on Thursday, October 13th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, October 12th. Riverview Bancorp’s payout ratio is 26.97%.

Insider Activity at Riverview Bancorp

In other news, Director Larry Hoff bought 8,800 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was purchased at an average price of $6.96 per share, with a total value of $61,248.00. Following the purchase, the director now owns 8,800 shares of the company’s stock, valued at approximately $61,248. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its stake in shares of Riverview Bancorp by 33.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,029 shares of the savings and loans company’s stock valued at $60,000 after acquiring an additional 2,014 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Riverview Bancorp by 3,162.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,352 shares of the savings and loans company’s stock valued at $72,000 after acquiring an additional 11,004 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Riverview Bancorp during the 2nd quarter valued at about $94,000. Millennium Management LLC increased its stake in shares of Riverview Bancorp by 53.0% during the 2nd quarter. Millennium Management LLC now owns 21,425 shares of the savings and loans company’s stock valued at $141,000 after acquiring an additional 7,420 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC increased its stake in shares of Riverview Bancorp by 13.6% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 93,450 shares of the savings and loans company’s stock valued at $615,000 after acquiring an additional 11,200 shares during the last quarter. Institutional investors and hedge funds own 60.59% of the company’s stock.

About Riverview Bancorp

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Riverview Bancorp, Inc, a bank holding company for Riverview Community Bank that provides commercial banking services to small and medium size businesses, professionals, and wealth building 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.

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