Riverview Bancorp, Inc. (NASDAQ:RVSB) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 374,300 shares, a drop of 12.0% from the June 30th total of 425,200 shares. Based on an average daily volume of 72,800 shares, the short-interest ratio is presently 5.1 days. Currently, 1.8% of the shares of the company are short sold.

Separately, Zacks Investment Research upgraded Riverview Bancorp from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Wednesday, July 8th.

In other news, major shareholder Martin S. Friedman sold 30,000 shares of Riverview Bancorp stock in a transaction on Monday, July 20th. The stock was sold at an average price of $4.80, for a total value of $144,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Martin S. Friedman sold 14,028 shares of Riverview Bancorp stock in a transaction on Friday, July 17th. The shares were sold at an average price of $4.85, for a total value of $68,035.80. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Mackay Shields LLC lifted its stake in shares of Riverview Bancorp by 37.8% in the 2nd quarter. Mackay Shields LLC now owns 52,500 shares of the savings and loans company’s stock valued at $296,000 after purchasing an additional 14,400 shares during the period. Beese Fulmer Investment Management Inc. acquired a new position in shares of Riverview Bancorp in the 2nd quarter valued at about $39,000. State Street Corp lifted its stake in shares of Riverview Bancorp by 6.4% in the 1st quarter. State Street Corp now owns 401,254 shares of the savings and loans company’s stock valued at $2,010,000 after purchasing an additional 24,199 shares during the period. Advisor Group Holdings Inc. bought a new stake in Riverview Bancorp in the 1st quarter valued at about $70,000. Finally, Invesco Ltd. increased its position in Riverview Bancorp by 9.7% in the 1st quarter. Invesco Ltd. now owns 59,754 shares of the savings and loans company’s stock valued at $299,000 after buying an additional 5,294 shares in the last quarter. Institutional investors and hedge funds own 65.13% of the company’s stock.

RVSB stock traded down $0.13 during midday trading on Friday, reaching $4.88. 115,468 shares of the stock were exchanged, compared to its average volume of 69,634. The stock has a market capitalization of $108.56 million, a PE ratio of 9.21 and a beta of 0.93. Riverview Bancorp has a 52 week low of $4.05 and a 52 week high of $8.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The company has a fifty day moving average price of $5.06 and a 200 day moving average price of $5.68.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Thursday, July 30th. The savings and loans company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.09). The firm had revenue of $13.75 million for the quarter, compared to the consensus estimate of $14.60 million. Riverview Bancorp had a return on equity of 8.25% and a net margin of 19.41%. As a group, analysts anticipate that Riverview Bancorp will post 0.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $0.20 dividend on an annualized basis and a yield of 4.10%. Riverview Bancorp’s dividend payout ratio is currently 28.99%.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services to small and medium size businesses, professionals, and 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.

See Also: Net Margin

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