Riverview Bancorp (RVSB) Stock Rating Upgraded by Zacks Investment Research
Riverview Bancorp (NASDAQ:RVSB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $10.00 target price on the savings and loans company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.11% from the stock’s current price.
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 upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a report on Friday, October 27th.
Riverview Bancorp (NASDAQ:RVSB) opened at $8.92 on Friday. Riverview Bancorp has a 1 year low of $6.46 and a 1 year high of $9.54. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.25. The company has a market cap of $203.03, a PE ratio of 20.48 and a beta of 0.51.
Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $13.44 million during the quarter, compared to analysts’ expectations of $13.10 million. Riverview Bancorp had a net margin of 18.90% and a return on equity of 8.63%. sell-side analysts forecast that Riverview Bancorp will post 0.55 earnings per share for the current year.
In other news, EVP Richard S. Michalek sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $8.77, for a total value of $105,240.00. Following the completion of the transaction, the executive vice president now directly owns 14,477 shares in the company, valued at $126,963.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Lee Nies sold 30,778 shares of the stock in a transaction that occurred 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. Company insiders own 7.41% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new stake in Riverview Bancorp during the third quarter valued at approximately $113,000. Rhumbline Advisers acquired a new stake in Riverview Bancorp during the second quarter valued at approximately $133,000. Goldman Sachs Group Inc. lifted its stake in Riverview Bancorp by 27.4% during the first quarter. Goldman Sachs Group Inc. now owns 18,776 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 4,038 shares during the last quarter. First Trust Advisors LP acquired a new stake in Riverview Bancorp during the third quarter valued at approximately $139,000. Finally, Nationwide Fund Advisors lifted its stake in Riverview Bancorp by 278.8% during the second quarter. Nationwide Fund Advisors now owns 22,013 shares of the savings and loans company’s stock valued at $146,000 after purchasing an additional 16,202 shares during the last quarter. 58.71% of the stock is owned by institutional investors and hedge funds.
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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).
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