StockNews.com Initiates Coverage on Riverview Bancorp (NASDAQ:RVSB)

StockNews.com assumed coverage on shares of Riverview Bancorp (NASDAQ:RVSB) in a research note published on Tuesday morning. The brokerage issued a hold rating on the savings and loans company’s stock.

Riverview Bancorp Stock Up 0.4 %

Shares of NASDAQ:RVSB opened at $5.37 on Tuesday. The stock’s 50-day moving average price is $5.65 and its 200-day moving average price is $5.06. Riverview Bancorp has a 12-month low of $3.30 and a 12-month high of $5.89. The stock has a market capitalization of $113.15 million, a P/E ratio of 134.28 and a beta of 0.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.82.

Riverview Bancorp (NASDAQ:RVSB) last posted its earnings results on Thursday, January 30th. The savings and loans company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.93%. On average, equities analysts anticipate that Riverview Bancorp will post 0.2 earnings per share for the current year.

Riverview Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.49%. Riverview Bancorp’s dividend payout ratio is currently 200.05%.

Insider Transactions at Riverview Bancorp

In other Riverview Bancorp news, major shareholder Martin S. Friedman sold 50,500 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total value of $277,245.00. Following the completion of the sale, the insider now directly owns 186,348 shares in the company, valued at $1,023,050.52. This trade represents a 21.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Riverview Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Riverview Bancorp by 2.7% in the third quarter. Geode Capital Management LLC now owns 209,781 shares of the savings and loans company’s stock worth $988,000 after buying an additional 5,551 shares during the period. Empowered Funds LLC lifted its holdings in Riverview Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 89,882 shares of the savings and loans company’s stock worth $423,000 after buying an additional 4,556 shares during the period. Fourthstone LLC lifted its holdings in Riverview Bancorp by 3.5% in the third quarter. Fourthstone LLC now owns 1,786,451 shares of the savings and loans company’s stock worth $8,414,000 after buying an additional 60,195 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Riverview Bancorp in the fourth quarter worth about $224,000. Finally, Nierenberg Investment Management Company Inc. lifted its holdings in Riverview Bancorp by 21.3% in the fourth quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company’s stock worth $7,384,000 after buying an additional 225,822 shares during the period. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

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.