Riverview Bancorp, Inc. (NASDAQ:RVSB) Sees Significant Growth in Short Interest

Riverview Bancorp, Inc. (NASDAQ:RVSB) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 116,900 shares, an increase of 74.5% from the February 28th total of 67,000 shares. Based on an average trading volume of 49,200 shares, the short-interest ratio is presently 2.4 days. Approximately 0.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Riverview Bancorp in a research report on Friday, March 7th. They set a “hold” rating on the stock.

Riverview Bancorp Price Performance

Shares of NASDAQ RVSB traded down $0.01 during trading hours on Friday, reaching $5.53. 40,983 shares of the stock traded hands, compared to its average volume of 34,997. The company has a market capitalization of $116.00 million, a P/E ratio of 138.28 and a beta of 0.75. The company’s 50-day simple moving average is $5.39 and its two-hundred day simple moving average is $5.23. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.72. Riverview Bancorp has a 52-week low of $3.30 and a 52-week high of $5.89.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. Equities research analysts forecast that Riverview Bancorp will post 0.2 EPS for the current year.

Insider Activity

In other news, major shareholder Martin S. Friedman sold 186,348 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $5.18, for a total value of $965,282.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Nierenberg Investment Management Company Inc. boosted its holdings in Riverview Bancorp by 21.3% during the 4th quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company’s stock valued at $7,384,000 after acquiring an additional 225,822 shares during the period. The Manufacturers Life Insurance Company lifted its position in Riverview Bancorp by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company’s stock valued at $5,446,000 after purchasing an additional 2,496 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Riverview Bancorp by 17.6% during the fourth quarter. Ameriprise Financial Inc. now owns 943,332 shares of the savings and loans company’s stock valued at $5,415,000 after purchasing an additional 141,400 shares during the period. Pacific Ridge Capital Partners LLC grew its holdings in shares of Riverview Bancorp by 2.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 651,442 shares of the savings and loans company’s stock worth $3,739,000 after purchasing an additional 15,395 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Riverview Bancorp by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 254,312 shares of the savings and loans company’s stock valued at $1,460,000 after buying an additional 2,924 shares during the last quarter. 69.60% of the stock is owned by institutional investors.

Riverview Bancorp Company Profile

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.