Riverview Bancorp (NASDAQ:RVSB) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Riverview Bancorp Inc (NASDAQ:RVSB) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.23 and traded as high as $5.55. Riverview Bancorp shares last traded at $5.53, with a volume of 29,082 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RVSB. Zacks Research raised Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen raised Riverview Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.00.

Riverview Bancorp Price Performance

The stock has a market cap of $114.32 million, a price-to-earnings ratio of 24.00 and a beta of 0.58. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average is $5.30 and its two-hundred day moving average is $5.23.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings results on Thursday, January 29th. The savings and loans company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. Riverview Bancorp had a return on equity of 2.99% and a net margin of 6.41%.The business had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.70 million. As a group, research analysts predict that Riverview Bancorp Inc will post 0.2 earnings per share for the current year.

Riverview Bancorp announced that its Board of Directors has initiated a share buyback program on Wednesday, January 28th that allows the company to buyback $4.00 million in outstanding shares. This buyback authorization allows the savings and loans company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RVSB. Arrowstreet Capital Limited Partnership lifted its holdings in Riverview Bancorp by 539.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company’s stock worth $3,161,000 after buying an additional 484,804 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Riverview Bancorp by 110.2% in the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock worth $2,533,000 after acquiring an additional 241,368 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Riverview Bancorp in the second quarter worth $913,000. Nierenberg Investment Management Company Inc. increased its position in shares of Riverview Bancorp by 4.9% during the third quarter. Nierenberg Investment Management Company Inc. now owns 2,032,775 shares of the savings and loans company’s stock worth $10,916,000 after acquiring an additional 95,000 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Riverview Bancorp by 719.8% during the third quarter. Two Sigma Investments LP now owns 82,440 shares of the savings and loans company’s stock worth $443,000 after acquiring an additional 72,384 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

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.