Riverview Bancorp, Inc. (NASDAQ:RVSB) Short Interest Update

Riverview Bancorp, Inc. (NASDAQ:RVSB) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 88,700 shares, a drop of 24.1% from the March 15th total of 116,900 shares. Based on an average daily trading volume, of 53,400 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.4% of the shares of the stock are short sold.

Riverview Bancorp Trading Up 0.5 %

NASDAQ:RVSB opened at $5.75 on Friday. The stock has a fifty day simple moving average of $5.45 and a 200 day simple moving average of $5.36. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $120.61 million, a price-to-earnings ratio of 143.79 and a beta of 0.55. Riverview Bancorp has a 1-year low of $3.30 and a 1-year high of $6.38.

Riverview Bancorp (NASDAQ:RVSB) last announced its earnings results on Thursday, January 30th. The savings and loans company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. Sell-side analysts forecast that Riverview Bancorp will post 0.2 earnings per share for the current year.

Riverview Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, April 14th. Riverview Bancorp’s dividend payout ratio (DPR) is currently 200.00%.

Insider Activity at Riverview Bancorp

In related news, major shareholder Martin S. Friedman sold 186,348 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.18, for a total value of $965,282.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Riverview Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nierenberg Investment Management Company Inc. increased its position in Riverview Bancorp by 21.3% in the 4th 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 purchasing an additional 225,822 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Riverview Bancorp by 0.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company’s stock valued at $5,446,000 after buying an additional 2,496 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Riverview Bancorp by 17.6% in the fourth quarter. Ameriprise Financial Inc. now owns 943,332 shares of the savings and loans company’s stock worth $5,415,000 after buying an additional 141,400 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in Riverview Bancorp by 2.4% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 651,442 shares of the savings and loans company’s stock valued at $3,739,000 after acquiring an additional 15,395 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Riverview Bancorp by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 254,312 shares of the savings and loans company’s stock valued at $1,460,000 after acquiring an additional 2,924 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Riverview Bancorp in a research report on Friday, March 7th. They set a “hold” rating for the company.

Riverview Bancorp Company Profile

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.