Riverview Bancorp (RVSB) Stock Rating Upgraded by Zacks Investment Research
Riverview Bancorp (NASDAQ:RVSB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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. “
Several other research analysts have also weighed in on RVSB. ValuEngine upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Raymond James lowered their target price on shares of Riverview Bancorp to $10.50 and set an “outperform” rating on the stock in a research report on Tuesday, May 8th.
Riverview Bancorp (NASDAQ:RVSB) last issued its earnings results on Thursday, April 26th. The savings and loans company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). Riverview Bancorp had a return on equity of 10.40% and a net margin of 18.30%. The company had revenue of $13.32 million for the quarter, compared to analyst estimates of $14.00 million. equities analysts anticipate that Riverview Bancorp will post 0.65 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Horizon Investment Services LLC purchased a new stake in shares of Riverview Bancorp in the first quarter valued at about $441,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Riverview Bancorp by 5.9% in the first quarter. Hillsdale Investment Management Inc. now owns 143,400 shares of the savings and loans company’s stock valued at $1,339,000 after purchasing an additional 8,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Riverview Bancorp by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,520,545 shares of the savings and loans company’s stock valued at $14,202,000 after purchasing an additional 67,465 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Riverview Bancorp by 567.4% in the first quarter. New York State Common Retirement Fund now owns 58,067 shares of the savings and loans company’s stock valued at $542,000 after purchasing an additional 49,367 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Riverview Bancorp by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 94,405 shares of the savings and loans company’s stock valued at $882,000 after purchasing an additional 9,251 shares in the last quarter. 60.92% of the stock is currently owned by institutional investors.
About Riverview Bancorp
Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services in the United States. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, regular savings accounts, certificates of deposit, and retirement savings plans.
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