StockNews.com initiated coverage on shares of Riverview Bancorp (NASDAQ:RVSB – Free Report) in a research note published on Saturday morning. The firm issued a hold rating on the savings and loans company’s stock.
Riverview Bancorp Stock Performance
Shares of Riverview Bancorp stock opened at $3.79 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.76. The company has a market cap of $80.01 million, a PE ratio of 21.06 and a beta of 0.80. The company has a 50 day moving average of $3.94 and a 200-day moving average of $4.67. Riverview Bancorp has a 1-year low of $3.30 and a 1-year high of $6.57.
Riverview Bancorp (NASDAQ:RVSB – Get Free Report) last released its earnings results on Thursday, April 25th. The savings and loans company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Riverview Bancorp had a return on equity of 4.92% and a net margin of 5.69%. The firm had revenue of $9.05 million during the quarter, compared to analysts’ expectations of $11.90 million. As a group, equities research analysts forecast that Riverview Bancorp will post 0.25 earnings per share for the current fiscal year.
Riverview Bancorp Cuts Dividend
Hedge Funds Weigh In On Riverview Bancorp
Institutional investors have recently added to or reduced their stakes in the stock. Mendon Capital Advisors Corp bought a new stake in shares of Riverview Bancorp during the fourth quarter worth $216,000. Empowered Funds LLC increased its holdings in Riverview Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 79,206 shares of the savings and loans company’s stock worth $374,000 after purchasing an additional 5,950 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Riverview Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 902,739 shares of the savings and loans company’s stock valued at $4,261,000 after purchasing an additional 6,615 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.
About Riverview Bancorp
Riverview Bancorp, Inc operates as a bank holding company for Riverview Bank that provides commercial banking services to small and medium size businesses, professionals, and wealth building individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans.
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