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

Riverview Bancorp (NASDAQ:RVSB) posted its quarterly earnings data on Tuesday. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01, Zacks reports. Riverview Bancorp had a positive return on equity of 3.06% and a negative net margin of 5.87%.The company had revenue of $15.01 million during the quarter, compared to analyst estimates of $14.80 million.

Riverview Bancorp Trading Down 0.3%

RVSB stock traded down $0.01 during midday trading on Thursday, hitting $5.28. The company had a trading volume of 1,726 shares, compared to its average volume of 70,508. The stock has a market cap of $106.34 million, a price-to-earnings ratio of -27.76 and a beta of 0.48. Riverview Bancorp has a 52 week low of $4.74 and a 52 week high of $6.22. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $5.51 and its 200 day moving average price is $5.41.

Riverview Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors 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 is currently -38.10%.

Insider Activity

In related news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of Riverview Bancorp stock in a transaction 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 transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased a total of 4,896 shares of company stock valued at $26,082 in the last quarter. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Riverview Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of RVSB. Raymond James Financial Inc. bought a new stake in shares of Riverview Bancorp in the second quarter worth about $34,000. BNP Paribas Financial Markets lifted its holdings in Riverview Bancorp by 122.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock worth $34,000 after buying an additional 3,524 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Riverview Bancorp during the second quarter valued at approximately $53,000. Intech Investment Management LLC purchased a new position in shares of Riverview Bancorp during the third quarter valued at approximately $55,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Riverview Bancorp during the second quarter valued at approximately $61,000. 69.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen raised Riverview Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Riverview Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Riverview Bancorp presently has an average 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.