Riverview Bancorp, Inc. (RVSB) Given Average Rating of “Buy” by Analysts
Shares of Riverview Bancorp, Inc. (NASDAQ:RVSB) have received an average broker rating score of 2.00 (Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation.
Brokerages have set a 1-year consensus price target of $10.00 for the company and are forecasting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Riverview Bancorp an industry rank of 15 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently issued reports on the stock. ValuEngine raised shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Zacks Investment Research raised shares of Riverview Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Friday, December 15th.
Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Riverview Bancorp had a net margin of 18.90% and a return on equity of 8.63%. The firm had revenue of $13.44 million for the quarter, compared to the consensus estimate of $13.10 million. equities research analysts expect that Riverview Bancorp will post 0.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 23rd. Stockholders of record on Monday, January 8th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, January 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Riverview Bancorp’s previous quarterly dividend of $0.02. Riverview Bancorp’s payout ratio is presently 20.46%.
In other Riverview Bancorp news, Director Gerald Lee Nies sold 30,778 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $8.58, for a total transaction of $264,075.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Richard S. Michalek sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $8.77, for a total transaction of $105,240.00. Following the sale, the executive vice president now directly owns 14,477 shares in the company, valued at approximately $126,963.29. The disclosure for this sale can be found here. 7.41% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Riverview Bancorp by 9.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,375,235 shares of the savings and loans company’s stock worth $11,552,000 after purchasing an additional 115,285 shares during the last quarter. Banc Funds Co. LLC grew its position in Riverview Bancorp by 44.5% during the 2nd quarter. Banc Funds Co. LLC now owns 746,574 shares of the savings and loans company’s stock worth $4,957,000 after purchasing an additional 230,000 shares during the last quarter. Vanguard Group Inc. grew its position in Riverview Bancorp by 158.7% during the 2nd quarter. Vanguard Group Inc. now owns 649,982 shares of the savings and loans company’s stock worth $4,316,000 after purchasing an additional 398,692 shares during the last quarter. State Street Corp grew its position in Riverview Bancorp by 1,923.2% during the 2nd quarter. State Street Corp now owns 231,349 shares of the savings and loans company’s stock worth $1,535,000 after purchasing an additional 219,914 shares during the last quarter. Finally, Northern Trust Corp grew its position in Riverview Bancorp by 323.1% during the 2nd quarter. Northern Trust Corp now owns 215,829 shares of the savings and loans company’s stock worth $1,433,000 after purchasing an additional 164,823 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.
About Riverview Bancorp
Riverview Bancorp, Inc (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Company operates through two segments, which include banking operations performed by the Bank and trust and investment services performed by Riverview Asset Management Corp. (RAMCorp).
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