Riverview Bancorp, Inc. (NASDAQ:RVSB – Get Free Report) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 25,300 shares, an increase of 40.6% from the June 30th total of 18,000 shares. Based on an average daily volume of 35,100 shares, the short-interest ratio is currently 0.7 days. Currently, 0.1% of the company’s shares are short sold.
Institutional Trading of Riverview Bancorp
Several hedge funds have recently modified their holdings of RVSB. Mendon Capital Advisors Corp purchased a new stake in shares of Riverview Bancorp during the fourth quarter valued at about $216,000. Empowered Funds LLC lifted its position in shares of Riverview Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 79,206 shares of the savings and loans company’s stock valued at $374,000 after buying an additional 5,950 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Riverview Bancorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 902,739 shares of the savings and loans company’s stock valued at $4,261,000 after purchasing an additional 6,615 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.
Riverview Bancorp Stock Up 4.5 %
Riverview Bancorp stock traded up $0.20 during midday trading on Friday, hitting $4.60. 14,106 shares of the company’s stock were exchanged, compared to its average volume of 57,908. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.83 and a current ratio of 0.83. Riverview Bancorp has a 12 month low of $3.30 and a 12 month high of $6.57. The firm has a 50-day moving average of $3.99 and a two-hundred day moving average of $4.50. The company has a market cap of $97.11 million, a PE ratio of 25.56 and a beta of 0.80.
Riverview Bancorp Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Wednesday, July 10th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, July 10th. Riverview Bancorp’s payout ratio is 44.44%.
Analyst Upgrades and Downgrades
Separately, StockNews.com assumed coverage on shares of Riverview Bancorp in a report on Monday, July 22nd. They issued a “hold” rating on the stock.
Get Our Latest Research Report on Riverview Bancorp
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.
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