Riverview Bancorp, Inc. (NASDAQ:RVSB) Short Interest Up 23.3% in August

Riverview Bancorp, Inc. (NASDAQ:RVSB) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 52,400 shares, an increase of 23.3% from the August 15th total of 42,500 shares. Based on an average daily volume of 30,200 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.3% of the company’s shares are sold short.

Insider Buying and Selling

In other Riverview Bancorp news, Director Valerie Moreno bought 10,150 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $5.89 per share, with a total value of $59,783.50. Following the transaction, the director now owns 10,150 shares in the company, valued at $59,783.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. increased its holdings in shares of Riverview Bancorp by 33.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,029 shares of the savings and loans company’s stock valued at $60,000 after acquiring an additional 2,014 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Riverview Bancorp by 29.8% in the 1st quarter. American Century Companies Inc. now owns 97,002 shares of the savings and loans company’s stock valued at $732,000 after acquiring an additional 22,257 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Riverview Bancorp by 1.4% in the 1st quarter. BlackRock Inc. now owns 1,696,504 shares of the savings and loans company’s stock valued at $12,809,000 after acquiring an additional 23,551 shares during the last quarter. Ancora Advisors LLC raised its stake in Riverview Bancorp by 10.0% during the first quarter. Ancora Advisors LLC now owns 125,502 shares of the savings and loans company’s stock worth $869,000 after acquiring an additional 11,455 shares during the period. Finally, State Street Corp raised its stake in Riverview Bancorp by 5.6% during the first quarter. State Street Corp now owns 105,983 shares of the savings and loans company’s stock worth $800,000 after acquiring an additional 5,586 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RVSB. StockNews.com began coverage on shares of Riverview Bancorp in a research report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet raised shares of Riverview Bancorp from a “c+” rating to a “b-” rating in a research report on Thursday, August 10th.

Riverview Bancorp Stock Down 0.2 %

RVSB traded down $0.01 on Friday, reaching $5.85. The company’s stock had a trading volume of 13,257 shares, compared to its average volume of 17,304. The stock has a market cap of $123.55 million, a price-to-earnings ratio of 7.80 and a beta of 0.71. Riverview Bancorp has a 1 year low of $4.17 and a 1 year high of $8.00. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day moving average is $5.69 and its 200 day moving average is $5.34.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $17.24 million during the quarter, compared to analyst estimates of $13.80 million. Riverview Bancorp had a net margin of 23.64% and a return on equity of 10.69%. As a group, research analysts forecast that Riverview Bancorp will post 0.46 EPS for the current fiscal year.

Riverview Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Tuesday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Monday, July 10th. Riverview Bancorp’s dividend payout ratio is presently 32.00%.

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.