Riverview Bancorp Inc (NASDAQ:RVSB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $9.00 price objective on the savings and loans company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.80% from the company’s previous close.

According to Zacks, “Riverview Bancorp, Inc. is a holding company for Riverview Savings Bank. The bank is a community oriented financial institution offering traditional financial services to the residents of its primary market area. The bank is engaged in the business of attracting deposits from the public and using such funds to originate fixed-rate mortgage loans and adjustable rate mortgage loans secured by one- to- four family residential real estate located in its primary market area. The bank is an active originator of residential construction loans and consumer loans. “

Separately, ValuEngine lowered shares of Riverview Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th.

Shares of Riverview Bancorp (NASDAQ RVSB) opened at 8.05 on Thursday. The company has a market capitalization of $181.16 million, a P/E ratio of 21.76 and a beta of 0.28. The firm has a 50-day moving average of $7.60 and a 200 day moving average of $7.28. Riverview Bancorp has a 1-year low of $4.91 and a 1-year high of $8.16.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Riverview Bancorp had a net margin of 17.19% and a return on equity of 7.51%. The firm had revenue of $13.17 million during the quarter, compared to analyst estimates of $13.20 million. On average, analysts anticipate that Riverview Bancorp will post $0.52 EPS for the current year.

WARNING: This news story was published by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.watchlistnews.com/riverview-bancorp-inc-rvsb-raised-to-buy-at-zacks-investment-research/1533011.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of RVSB. Globeflex Capital L P boosted its position in Riverview Bancorp by 15,004.8% in the first quarter. Globeflex Capital L P now owns 28,397 shares of the savings and loans company’s stock worth $203,000 after buying an additional 28,209 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Riverview Bancorp by 78.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 40,027 shares of the savings and loans company’s stock worth $286,000 after buying an additional 17,583 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Riverview Bancorp by 70.1% in the first quarter. Bank of New York Mellon Corp now owns 40,552 shares of the savings and loans company’s stock worth $290,000 after buying an additional 16,718 shares during the last quarter. Acadian Asset Management LLC boosted its position in Riverview Bancorp by 44.5% in the first quarter. Acadian Asset Management LLC now owns 71,931 shares of the savings and loans company’s stock worth $514,000 after buying an additional 22,138 shares during the last quarter. Finally, Segantii Capital Management Ltd boosted its position in Riverview Bancorp by 566.1% in the first quarter. Segantii Capital Management Ltd now owns 25,978 shares of the savings and loans company’s stock worth $186,000 after buying an additional 22,078 shares during the last quarter. 56.03% of the stock is currently owned by institutional investors.

About Riverview Bancorp

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).

Receive News & Ratings for Riverview Bancorp Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Riverview Bancorp Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.