StockNews.com Initiates Coverage on Riverview Bancorp (NASDAQ:RVSB)

Stock analysts at StockNews.com began coverage on shares of Riverview Bancorp (NASDAQ:RVSB) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the savings and loans company’s stock.

Riverview Bancorp Stock Down 0.5 %

Shares of Riverview Bancorp stock opened at $5.85 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.82. The business’s 50 day simple moving average is $5.07 and its 200-day simple moving average is $4.59. The stock has a market capitalization of $123.25 million, a price-to-earnings ratio of 117.00 and a beta of 0.81. Riverview Bancorp has a twelve month low of $3.30 and a twelve month high of $6.57.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Riverview Bancorp had a return on equity of 3.06% and a net margin of 1.47%. The business had revenue of $18.78 million for the quarter, compared to analysts’ expectations of $12.20 million. Equities research analysts forecast that Riverview Bancorp will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Riverview Bancorp

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Riverview Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 89,882 shares of the savings and loans company’s stock worth $423,000 after acquiring an additional 4,556 shares during the last quarter. Geode Capital Management LLC boosted its position in Riverview Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 209,781 shares of the savings and loans company’s stock valued at $988,000 after purchasing an additional 5,551 shares during the last quarter. Finally, Fourthstone LLC boosted its position in Riverview Bancorp by 3.5% during the third quarter. Fourthstone LLC now owns 1,786,451 shares of the savings and loans company’s stock valued at $8,414,000 after purchasing an additional 60,195 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.