Zacks Investment Research upgraded shares of Riverview Bancorp Inc. (NASDAQ:RVSB) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $6.00 price target on the stock.
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, Raymond James Financial Inc. upgraded Riverview Bancorp from a market perform rating to an outperform rating and set a $6.00 target price on the stock in a report on Friday, September 30th.
Shares of Riverview Bancorp (NASDAQ:RVSB) opened at 5.50 on Wednesday. The stock has a 50 day moving average of $5.25 and a 200-day moving average of $4.81. The company has a market cap of $123.57 million, a PE ratio of 19.10 and a beta of 0.28. Riverview Bancorp has a 12 month low of $4.15 and a 12 month high of $5.67.
Riverview Bancorp (NASDAQ:RVSB) last issued its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Riverview Bancorp had a return on equity of 5.99% and a net margin of 15.76%. Equities analysts forecast that Riverview Bancorp will post $0.30 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.45%. The ex-dividend date is Wednesday, October 12th. Riverview Bancorp’s dividend payout ratio (DPR) is presently 27.59%.
Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Riverview Bancorp by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 22,762 shares of the company’s stock valued at $108,000 after buying an additional 820 shares during the period. PL Capital Advisors LLC bought a new position in shares of Riverview Bancorp during the second quarter valued at $3,385,000. BlackRock Fund Advisors boosted its position in shares of Riverview Bancorp by 7.4% in the second quarter. BlackRock Fund Advisors now owns 63,459 shares of the company’s stock valued at $300,000 after buying an additional 4,352 shares during the period. Alliancebernstein L.P. boosted its position in shares of Riverview Bancorp by 7.9% in the second quarter. Alliancebernstein L.P. now owns 468,203 shares of the company’s stock valued at $2,215,000 after buying an additional 34,270 shares during the period. Finally, Maltese Capital Management LLC boosted its position in shares of Riverview Bancorp by 2.1% in the second quarter. Maltese Capital Management LLC now owns 643,700 shares of the company’s stock valued at $3,045,000 after buying an additional 13,300 shares during the period. Institutional investors and hedge funds own 51.38% of the company’s stock.
About Riverview Bancorp
Riverview Bancorp, Inc (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Bank is engaged primarily in the business of attracting deposits from the general public and using such funds, together with other borrowings, to invest in various commercial business, commercial real estate, multi-family real estate, real estate construction, residential real estate and consumer loans.