Short Interest in Riverview Bancorp Inc (NASDAQ:RVSB) Grows By 90.6%

Riverview Bancorp Inc (NASDAQ:RVSB) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 269,447 shares, a growth of 90.6% from the July 15th total of 141,358 shares. Based on an average daily volume of 59,683 shares, the short-interest ratio is currently 4.5 days. Currently, 1.4% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $5.25, for a total transaction of $26,250.00. Following the transaction, the insider directly owned 89,388 shares of the company’s stock, valued at $469,287. This represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have acquired 3,426 shares of company stock worth $18,194. 3.90% of the stock is currently owned by insiders.

Institutional Trading of Riverview Bancorp

Institutional investors have recently made changes to their positions in the business. Nierenberg Investment Management Company LLC bought a new stake in Riverview Bancorp during the 2nd quarter valued at approximately $11,037,968,000. Dimensional Fund Advisors LP grew its stake in Riverview Bancorp by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,336,020 shares of the savings and loans company’s stock valued at $7,349,000 after acquiring an additional 15,745 shares in the last quarter. BlackRock Inc. bought a new stake in Riverview Bancorp in the 2nd quarter valued at $7,042,000. The Manufacturers Life Insurance Company bought a new stake in Riverview Bancorp in the 2nd quarter valued at $5,767,000. Finally, Pacific Ridge Capital Partners LLC lifted its stake in Riverview Bancorp by 3.5% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 723,684 shares of the savings and loans company’s stock worth $3,633,000 after purchasing an additional 24,178 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of Riverview Bancorp from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Wall Street Zen cut shares of Riverview Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Riverview Bancorp Price Performance

Shares of RVSB traded down $0.06 during mid-day trading on Friday, reaching $5.25. The stock had a trading volume of 53,835 shares, compared to its average volume of 54,070. The business has a fifty day moving average of $5.45 and a 200 day moving average of $5.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $105.84 million, a price-to-earnings ratio of -27.63 and a beta of 0.49. Riverview Bancorp has a 12 month low of $4.74 and a 12 month high of $6.22.

Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Wednesday, July 29th. The savings and loans company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $15.01 million for the quarter, compared to analysts’ expectations of $14.80 million. Riverview Bancorp had a negative net margin of 5.87% and a positive return on equity of 3.06%. Equities analysts predict that Riverview Bancorp will post 0.28 EPS for the current year.

Riverview Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Thursday, July 9th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 9th. Riverview Bancorp’s payout ratio is presently -42.11%.

About Riverview Bancorp

Riverview Bancorp, Inc (NASDAQ: RVSB) is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company’s deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.