Short Interest in Riverview Bancorp, Inc. (NASDAQ:RVSB) Grows By 30.1%

Riverview Bancorp, Inc. (NASDAQ:RVSB) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 62,600 shares, an increase of 30.1% from the January 31st total of 48,100 shares. Based on an average daily trading volume, of 32,700 shares, the short-interest ratio is currently 1.9 days. Currently, 0.3% of the shares of the company are sold short.

Riverview Bancorp Price Performance

RVSB traded down $0.02 during trading on Tuesday, reaching $5.11. The company’s stock had a trading volume of 18,253 shares, compared to its average volume of 30,979. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $5.52 and a two-hundred day simple moving average of $5.13. The company has a market cap of $107.19 million, a price-to-earnings ratio of 127.78 and a beta of 0.77. Riverview Bancorp has a 1 year low of $3.30 and a 1 year high of $5.89.

Riverview Bancorp (NASDAQ:RVSB) last released 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 return on equity of 2.92% and a net margin of 1.13%. As a group, analysts anticipate that Riverview Bancorp will post 0.2 EPS for the current year.

Riverview Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Thursday, January 2nd were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 2nd. Riverview Bancorp’s payout ratio is 200.00%.

Insiders Place Their Bets

In other news, major shareholder Martin S. Friedman sold 50,500 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total value of $277,245.00. Following the sale, the insider now directly owns 186,348 shares of the company’s stock, valued at $1,023,050.52. This represents a 21.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Riverview Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC boosted its holdings 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. Ameriprise Financial Inc. boosted its stake in shares of Riverview Bancorp by 17.6% in the 4th quarter. Ameriprise Financial Inc. now owns 943,332 shares of the savings and loans company’s stock valued at $5,415,000 after buying an additional 141,400 shares during the period. Jane Street Group LLC acquired a new position in shares of Riverview Bancorp during the fourth quarter worth about $87,000. The Manufacturers Life Insurance Company lifted its stake 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 worth $5,446,000 after acquiring an additional 2,496 shares during the last quarter. Finally, Nierenberg Investment Management Company Inc. grew its stake in shares of Riverview Bancorp by 21.3% during the fourth quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company’s stock worth $7,384,000 after purchasing an additional 225,822 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Riverview Bancorp in a research report on Thursday, February 27th. They set a “hold” rating on the stock.

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.