Short Interest in Riverview Bancorp, Inc. (NASDAQ:RVSB) Drops By 31.8%

Riverview Bancorp, Inc. (NASDAQ:RVSB) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 26,600 shares, a decrease of 31.8% from the October 15th total of 39,000 shares. Based on an average daily trading volume, of 21,200 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.1% of the shares of the stock are sold short.

Riverview Bancorp Stock Performance

Shares of RVSB stock remained flat at $4.91 during trading hours on Friday. The stock had a trading volume of 20,004 shares, compared to its average volume of 28,041. Riverview Bancorp has a 52 week low of $3.30 and a 52 week high of $6.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day moving average is $4.68 and its two-hundred day moving average is $4.36. The company has a market cap of $103.45 million, a price-to-earnings ratio of 98.20 and a beta of 0.76.

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, beating analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $18.78 million for the quarter, compared to analysts’ expectations of $12.20 million. Riverview Bancorp had a return on equity of 3.06% and a net margin of 1.47%. On average, sell-side analysts expect that Riverview Bancorp will post 0.18 EPS for the current fiscal year.

Riverview Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, October 7th were given a $0.02 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.08 dividend on an annualized basis and a yield of 1.63%. Riverview Bancorp’s dividend payout ratio (DPR) is presently 160.00%.

Institutional Trading of Riverview Bancorp

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Riverview Bancorp by 2.7% in the 3rd 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 in the last quarter. Fourthstone LLC increased its holdings in Riverview Bancorp by 3.5% during the 3rd 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 in the last quarter. Empowered Funds LLC raised its position in 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 valued at $423,000 after purchasing an additional 4,556 shares during the last quarter. Finally, 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 worth $4,261,000 after purchasing an additional 6,615 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Riverview Bancorp in a research report on Sunday, November 3rd. They set a “hold” rating on the 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.