Riverview Bancorp (NASDAQ:RVSB) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Riverview Bancorp (NASDAQ:RVSB) from a hold rating to a sell rating in a report issued on Friday morning, Zacks.com reports.

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. “

A number of other equities research analysts also recently issued reports on RVSB. Raymond James reduced their price target on shares of Riverview Bancorp from $9.00 to $8.00 and set an outperform rating for the company in a research report on Thursday, August 29th. ValuEngine downgraded shares of Riverview Bancorp from a hold rating to a sell rating in a research report on Thursday, August 1st.

RVSB stock opened at $7.61 on Friday. The firm has a 50 day moving average of $7.41 and a 200-day moving average of $7.75. Riverview Bancorp has a 12-month low of $5.46 and a 12-month high of $9.17. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.62. The company has a market cap of $172.91 million, a price-to-earnings ratio of 10.01 and a beta of 0.63.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. Riverview Bancorp had a net margin of 27.67% and a return on equity of 13.03%. The company had revenue of $14.61 million during the quarter, compared to the consensus estimate of $14.60 million. Sell-side analysts forecast that Riverview Bancorp will post 0.75 earnings per share for the current fiscal year.

In related news, Director David Nierenberg acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $6.85 per share, for a total transaction of $137,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gerald Lee Nies acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $7.58 per share, with a total value of $75,800.00. The disclosure for this purchase can be found here. 6.20% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of RVSB. BlackRock Inc. raised its position in shares of Riverview Bancorp by 6.6% during the 2nd quarter. BlackRock Inc. now owns 2,551,087 shares of the savings and loans company’s stock worth $21,788,000 after purchasing an additional 157,223 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in shares of Riverview Bancorp by 21.5% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 519,311 shares of the savings and loans company’s stock worth $4,435,000 after purchasing an additional 92,067 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Riverview Bancorp by 52.2% during the 2nd quarter. Acadian Asset Management LLC now owns 188,621 shares of the savings and loans company’s stock worth $1,611,000 after purchasing an additional 64,725 shares during the last quarter. LSV Asset Management acquired a new position in shares of Riverview Bancorp during the 1st quarter worth approximately $428,000. Finally, Granite Investment Partners LLC raised its position in shares of Riverview Bancorp by 89.4% during the 1st quarter. Granite Investment Partners LLC now owns 98,321 shares of the savings and loans company’s stock worth $719,000 after purchasing an additional 46,407 shares during the last quarter. Hedge funds and other institutional investors own 63.23% of the company’s stock.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services to small and medium size businesses, professionals, and 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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