Riverview Bancorp Inc (NASDAQ:RVSB) Sees Large Growth in Short Interest

Riverview Bancorp Inc (NASDAQ:RVSB) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 141,358 shares, an increase of 94.3% from the June 30th total of 72,736 shares. Based on an average daily trading volume, of 73,260 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.7% of the shares of the stock are short sold.

Riverview Bancorp Price Performance

Shares of NASDAQ:RVSB opened at $5.29 on Friday. The firm has a market cap of $106.65 million, a P/E ratio of -27.84 and a beta of 0.48. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.31. Riverview Bancorp has a 12-month low of $4.74 and a 12-month high of $6.22. The business has a fifty day simple moving average of $5.50 and a 200 day simple moving average of $5.41.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings results on Tuesday, July 28th. The savings and loans company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Riverview Bancorp had a positive return on equity of 3.06% and a negative net margin of 5.87%.The firm had revenue of $15.01 million for the quarter, compared to analyst estimates of $14.80 million. Analysts predict that Riverview Bancorp will post 0.32 earnings per share for the current year.

Riverview Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.08 annualized dividend and a yield of 1.5%. Riverview Bancorp’s dividend payout ratio (DPR) is presently -42.11%.

Insiders Place Their Bets

In other Riverview Bancorp news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of Riverview Bancorp stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $5.25, for a total value of $26,250.00. Following the transaction, the insider owned 89,388 shares in the company, valued at $469,287. The trade was a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought 4,896 shares of company stock valued at $26,082 over the last quarter. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Riverview Bancorp

A number of hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP grew its holdings in Riverview Bancorp by 719.8% during the 3rd 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. AQR Capital Management LLC lifted its stake in Riverview Bancorp by 22.7% in the fourth quarter. AQR Capital Management LLC now owns 66,380 shares of the savings and loans company’s stock valued at $333,000 after buying an additional 12,261 shares during the period. Jane Street Group LLC boosted its holdings in shares of Riverview Bancorp by 204.1% during the 1st quarter. Jane Street Group LLC now owns 46,318 shares of the savings and loans company’s stock worth $262,000 after buying an additional 31,085 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Riverview Bancorp by 42.3% in the 4th quarter. Wells Fargo & Company MN now owns 24,369 shares of the savings and loans company’s stock valued at $122,000 after acquiring an additional 7,245 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Riverview Bancorp during the 2nd quarter valued at $88,000. Institutional investors own 69.60% of the company’s stock.

Analyst Upgrades and Downgrades

RVSB has been the subject of several research reports. Wall Street Zen raised shares of Riverview Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings raised Riverview Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

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.