Riverview Bancorp Inc. (NASDAQ:RVSB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $6.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.73% from the stock’s current price.
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 price target for the company in a research report on Friday, September 30th.
Shares of Riverview Bancorp (NASDAQ:RVSB) traded up 0.9777% during trading on Wednesday, reaching $5.4225. The company’s stock had a trading volume of 924 shares. The stock has a market cap of $121.83 million, a P/E ratio of 18.8281 and a beta of 0.28. The stock’s 50-day moving average is $5.21 and its 200-day moving average is $4.79. Riverview Bancorp has a 12-month low of $4.15 and a 12-month high of $5.53.
Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Riverview Bancorp had a return on equity of 5.99% and a net margin of 15.76%. Equities research analysts anticipate that Riverview Bancorp will post $0.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors 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 1.49%. The ex-dividend date of this dividend is Wednesday, October 12th. Riverview Bancorp’s dividend payout ratio is 27.59%.
A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in 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 in the last quarter. BlackRock Fund Advisors raised its stake in 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 in the last quarter. Alliancebernstein L.P. raised its stake in 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 in the last quarter. Maltese Capital Management LLC raised its stake in 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 in the last quarter. Finally, PL Capital Advisors LLC acquired a new stake in Riverview Bancorp during the second quarter valued at about $3,385,000. 51.38% of the stock is owned by institutional investors.
Riverview Bancorp Company Profile
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.
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