StockNews.com initiated coverage on shares of Riverview Bancorp (NASDAQ:RVSB – Free Report) in a report published on Thursday morning. The brokerage issued a hold rating on the savings and loans company’s stock.
Separately, TheStreet lowered Riverview Bancorp from a b- rating to a c+ rating in a research report on Friday, February 23rd.
Check Out Our Latest Stock Report on Riverview Bancorp
Riverview Bancorp Price Performance
Riverview Bancorp (NASDAQ:RVSB – Get Free Report) last posted its earnings results on Thursday, April 25th. The savings and loans company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Riverview Bancorp had a net margin of 5.69% and a return on equity of 4.92%. The business had revenue of $9.05 million for the quarter, compared to the consensus estimate of $11.90 million. As a group, sell-side analysts predict that Riverview Bancorp will post 0.25 earnings per share for the current year.
Riverview Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Thursday, April 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $0.24 annualized dividend and a dividend yield of 6.23%. Riverview Bancorp’s dividend payout ratio is presently 133.34%.
Institutional Investors Weigh In On Riverview Bancorp
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Riverview Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 902,739 shares of the savings and loans company’s stock valued at $4,261,000 after acquiring an additional 6,615 shares during the period. Empowered Funds LLC boosted its holdings in Riverview Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 79,206 shares of the savings and loans company’s stock valued at $374,000 after acquiring an additional 5,950 shares during the period. Finally, Mendon Capital Advisors Corp bought a new stake in Riverview Bancorp during the fourth quarter valued at about $216,000. Institutional investors and hedge funds own 69.60% of the company’s stock.
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.
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