Riverview Bancorp, Inc. (NASDAQ:RVSB) has received an average broker rating score of 2.00 (Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating.
Analysts have set a 1 year consensus price target of $10.00 for the company and are expecting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned Riverview Bancorp an industry rank of 19 out of 265 based on the ratings given to related companies.
Several research firms have recently weighed in on RVSB. ValuEngine upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, November 2nd.
Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $13.44 million during the quarter, compared to analyst estimates of $13.10 million. Riverview Bancorp had a net margin of 17.00% and a return on equity of 9.71%. analysts expect that Riverview Bancorp will post 0.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 23rd. Stockholders of record on Monday, January 8th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, January 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.30%. This is a positive change from Riverview Bancorp’s previous quarterly dividend of $0.02. Riverview Bancorp’s payout ratio is currently 28.57%.
In other Riverview Bancorp news, EVP Richard S. Michalek sold 12,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $8.77, for a total transaction of $105,240.00. Following the completion of the sale, the executive vice president now owns 14,477 shares in the company, valued at approximately $126,963.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Lee Nies sold 30,778 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $8.58, for a total transaction of $264,075.24. The disclosure for this sale can be found here. Insiders own 7.41% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RVSB. Schwab Charles Investment Management Inc. bought a new stake in Riverview Bancorp during the 2nd quarter valued at $216,000. Rhumbline Advisers bought a new stake in Riverview Bancorp during the 2nd quarter valued at $133,000. Bank of New York Mellon Corp increased its stake in Riverview Bancorp by 129.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 92,919 shares of the savings and loans company’s stock valued at $617,000 after purchasing an additional 52,367 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Riverview Bancorp by 134.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 78,292 shares of the savings and loans company’s stock valued at $520,000 after purchasing an additional 44,875 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in Riverview Bancorp during the 2nd quarter valued at $191,000. Institutional investors and hedge funds own 58.62% of the company’s stock.
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Riverview Bancorp Company Profile
Riverview Bancorp, Inc (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Company operates through two segments, which include banking operations performed by the Bank and trust and investment services performed by Riverview Asset Management Corp. (RAMCorp).
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