Zacks: Brokerages Set $10.00 Target Price for Riverview Bancorp, Inc. (RVSB)

Riverview Bancorp, Inc. (NASDAQ:RVSB) has been given an average broker rating score of 2.00 (Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating.

Brokers have set a one year consensus price objective of $10.00 for the company and are forecasting that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also assigned Riverview Bancorp an industry rank of 51 out of 265 based on the ratings given to its competitors.

A number of brokerages recently weighed in on RVSB. Zacks Investment Research upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, August 31st. ValuEngine upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, October 27th.

Riverview Bancorp (RVSB) traded up $0.13 on Monday, hitting $8.90. 47,343 shares of the company’s stock were exchanged, compared to its average volume of 89,754. The company has a market capitalization of $200.33, a price-to-earnings ratio of 20.70 and a beta of 0.51. Riverview Bancorp has a fifty-two week low of $6.46 and a fifty-two week high of $9.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.25.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Riverview Bancorp had a net margin of 18.90% and a return on equity of 8.63%. The business had revenue of $13.44 million during the quarter, compared to analyst estimates of $13.10 million. equities research analysts expect that Riverview Bancorp will post 0.47 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 23rd. Investors of record on Monday, January 8th will be given a dividend of $0.03 per share. This is a positive change from Riverview Bancorp’s previous quarterly dividend of $0.02. 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 1.35%. Riverview Bancorp’s dividend payout ratio is currently 20.93%.

In related news, EVP Richard S. Michalek sold 12,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $8.77, for a total transaction of $105,240.00. Following the completion of the transaction, the executive vice president now owns 14,477 shares in the company, valued at $126,963.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald Lee Nies sold 30,778 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $8.58, for a total transaction of $264,075.24. The disclosure for this sale can be found here. 7.41% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of RVSB. Geode Capital Management LLC raised its stake in Riverview Bancorp by 222.2% during the first quarter. Geode Capital Management LLC now owns 169,305 shares of the savings and loans company’s stock valued at $1,210,000 after purchasing an additional 116,756 shares in the last quarter. Renaissance Technologies LLC raised its stake in Riverview Bancorp by 11.0% during the first quarter. Renaissance Technologies LLC now owns 106,900 shares of the savings and loans company’s stock valued at $764,000 after purchasing an additional 10,600 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Riverview Bancorp by 27.4% during the first quarter. Goldman Sachs Group Inc. now owns 18,776 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 4,038 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in Riverview Bancorp during the second quarter valued at $216,000. Finally, Rhumbline Advisers purchased a new stake in Riverview Bancorp during the second quarter valued at $133,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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Riverview Bancorp Company Profile

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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