Riverview Bancorp (NASDAQ:RVSB) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Riverview Bancorp (NASDAQ:RVSB) released its quarterly earnings results on Tuesday. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01, Zacks reports. Riverview Bancorp had a positive return on equity of 2.74% and a negative net margin of 6.70%.

Riverview Bancorp Trading Up 0.9%

NASDAQ:RVSB traded up $0.05 on Tuesday, reaching $5.37. The stock had a trading volume of 61,337 shares, compared to its average volume of 71,088. Riverview Bancorp has a 12-month low of $4.74 and a 12-month high of $6.22. The company has a market cap of $108.26 million, a price-to-earnings ratio of -25.57 and a beta of 0.48. The firm’s fifty day moving average is $5.52 and its two-hundred day moving average is $5.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.94 and a quick ratio of 0.94.

Riverview Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, July 9th. Riverview Bancorp’s dividend payout ratio is -38.10%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RVSB. Weiss Ratings downgraded shares of Riverview Bancorp from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 9th. Wall Street Zen upgraded Riverview Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Insider Activity at Riverview Bancorp

In other news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $5.25, for a total value of $26,250.00. Following the completion of the transaction, the insider owned 89,388 shares of the company’s stock, valued at $469,287. The trade was a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought 4,896 shares of company stock worth $26,082 in the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings in shares of Riverview Bancorp by 6.3% during the fourth quarter. Empowered Funds LLC now owns 128,293 shares of the savings and loans company’s stock worth $644,000 after purchasing an additional 7,575 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Riverview Bancorp by 2.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 275,199 shares of the savings and loans company’s stock valued at $1,381,000 after purchasing an additional 7,575 shares during the period. AQR Capital Management LLC increased its position in Riverview Bancorp by 22.7% during the fourth quarter. AQR Capital Management LLC now owns 66,380 shares of the savings and loans company’s stock worth $333,000 after purchasing an additional 12,261 shares during the last quarter. Barclays PLC increased its position in Riverview Bancorp by 4.0% during the fourth quarter. Barclays PLC now owns 86,231 shares of the savings and loans company’s stock worth $433,000 after purchasing an additional 3,325 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Riverview Bancorp by 42.3% during the fourth quarter. Wells Fargo & Company MN now owns 24,369 shares of the savings and loans company’s stock worth $122,000 after purchasing an additional 7,245 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.