Riverview Bancorp, Inc. (NASDAQ:RVSB) Sees Large Increase in Short Interest

Riverview Bancorp, Inc. (NASDAQ:RVSB) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 116,900 shares, an increase of 74.5% from the February 28th total of 67,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 49,200 shares, the short-interest ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

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

Insider Activity at Riverview Bancorp

In related news, major shareholder Martin S. Friedman sold 186,348 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $5.18, for a total value of $965,282.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nierenberg Investment Management Company Inc. lifted its stake in Riverview Bancorp by 21.3% in the 4th quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company’s stock valued at $7,384,000 after buying an additional 225,822 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Riverview Bancorp by 17.6% during the fourth quarter. Ameriprise Financial Inc. now owns 943,332 shares of the savings and loans company’s stock valued at $5,415,000 after acquiring an additional 141,400 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Riverview Bancorp during the 4th quarter worth about $224,000. Pacific Ridge Capital Partners LLC raised its stake in Riverview Bancorp by 2.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 651,442 shares of the savings and loans company’s stock valued at $3,739,000 after purchasing an additional 15,395 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Riverview Bancorp in the 4th quarter valued at about $87,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Riverview Bancorp Stock Performance

NASDAQ:RVSB opened at $5.53 on Monday. The firm’s fifty day simple moving average is $5.39 and its 200-day simple moving average is $5.23. 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 stock has a market cap of $116.00 million, a PE ratio of 138.28 and a beta of 0.75. Riverview Bancorp has a fifty-two week low of $3.30 and a fifty-two week high of $5.89.

Riverview Bancorp (NASDAQ:RVSB) last issued its earnings results on Thursday, January 30th. The savings and loans company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. Analysts expect that Riverview Bancorp will post 0.2 earnings per share for the current fiscal year.

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.