Riverview Bancorp Inc (NASDAQ:RVSB – Get Free Report) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 269,447 shares, a growth of 90.6% from the July 15th total of 141,358 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 59,683 shares, the days-to-cover ratio is currently 4.5 days.
Analyst Ratings Changes
Several research firms have weighed in on RVSB. Weiss Ratings cut Riverview Bancorp from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wall Street Zen cut Riverview Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Riverview Bancorp presently has a consensus rating of “Reduce”.
Riverview Bancorp Trading Down 2.1%
Riverview Bancorp (NASDAQ:RVSB – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The savings and loans company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $15.01 million for the quarter, compared to analysts’ expectations of $14.80 million. Riverview Bancorp had a positive return on equity of 3.06% and a negative net margin of 5.87%. Equities research analysts predict that Riverview Bancorp will post 0.28 earnings per share for the current fiscal year.
Riverview Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Thursday, July 9th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.6%. Riverview Bancorp’s dividend payout ratio is currently -42.11%.
Insider Activity
In related news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $5.25, for a total transaction of $26,250.00. Following the transaction, the insider owned 89,388 shares in the company, valued at $469,287. The trade was a 5.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 3,426 shares of company stock valued at $18,194 over the last quarter. 3.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Bank of America Corp DE purchased a new stake in Riverview Bancorp in the second quarter worth about $643,000. Empowered Funds LLC purchased a new position in shares of Riverview Bancorp during the second quarter valued at approximately $697,000. BlackRock Inc. bought a new stake in shares of Riverview Bancorp in the 2nd quarter worth approximately $7,042,000. The Manufacturers Life Insurance Company bought a new stake in shares of Riverview Bancorp in the 2nd quarter worth approximately $5,767,000. Finally, Ancora Advisors LLC purchased a new stake in shares of Riverview Bancorp in the 2nd quarter worth approximately $529,000. 69.60% of the stock is owned by hedge funds and other institutional investors.
About Riverview Bancorp
Riverview Bancorp, Inc (NASDAQ: RVSB) is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.
The company’s deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.
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