Riverview Bancorp, Inc. (NASDAQ:RVSB) Short Interest Down 24.1% in March

Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 88,700 shares, a drop of 24.1% from the March 15th total of 116,900 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 53,400 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Riverview Bancorp in a research note on Friday, March 7th. They issued a "hold" rating on the stock.

Insider Activity

In related news, major shareholder Martin S. Friedman sold 50,500 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total value of $277,245.00. Following the transaction, the insider now directly owns 186,348 shares of the company's stock, valued at approximately $1,023,050.52. This trade represents a 21.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Riverview Bancorp

A number of hedge funds have recently modified their holdings of RVSB. Jane Street Group LLC purchased a new stake in shares of Riverview Bancorp in the 4th quarter valued at approximately $87,000. Arrowstreet Capital Limited Partnership acquired a new position in Riverview Bancorp in the fourth quarter valued at approximately $224,000. Empowered Funds LLC lifted its holdings in Riverview Bancorp by 5.0% in the fourth quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company's stock valued at $540,000 after acquiring an additional 4,524 shares during the last quarter. Geode Capital Management LLC grew its position in Riverview Bancorp by 2.7% in the third quarter. Geode Capital Management LLC now owns 209,781 shares of the savings and loans company's stock worth $988,000 after acquiring an additional 5,551 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in Riverview Bancorp by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 254,312 shares of the savings and loans company's stock valued at $1,460,000 after purchasing an additional 2,924 shares during the period. Hedge funds and other institutional investors own 69.60% of the company's stock.

Riverview Bancorp Price Performance

Shares of Riverview Bancorp stock traded up $0.03 during trading hours on Friday, reaching $5.75. 88,754 shares of the company's stock were exchanged, compared to its average volume of 38,384. The company has a market capitalization of $120.61 million, a P/E ratio of 143.79 and a beta of 0.55. 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 1 year low of $3.30 and a 1 year high of $6.38. The business has a fifty day moving average of $5.44 and a two-hundred day moving average of $5.34.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Riverview Bancorp had a return on equity of 2.92% and a net margin of 1.13%. As a group, research analysts predict that Riverview Bancorp will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.39%. Riverview Bancorp's payout ratio is 200.00%.

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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