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

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

Insider Buying and Selling at Riverview Bancorp

In other news, major shareholder Martin S. Friedman sold 50,500 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total transaction of $277,245.00. Following the completion of the transaction, the insider now 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 ownership of the stock. 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 Trading of Riverview Bancorp

A number of large investors have recently bought and sold shares of RVSB. The Manufacturers Life Insurance Company boosted its position in shares of Riverview Bancorp by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company’s stock valued at $5,446,000 after purchasing an additional 2,496 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Riverview Bancorp by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 254,312 shares of the savings and loans company’s stock worth $1,460,000 after buying an additional 2,924 shares in the last quarter. Empowered Funds LLC grew its position in shares of Riverview Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company’s stock worth $540,000 after buying an additional 4,524 shares during the period. Geode Capital Management LLC increased its stake 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 valued at $988,000 after acquiring an additional 5,551 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Riverview Bancorp in the 4th quarter valued at $87,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Riverview Bancorp in a research report on Friday, March 7th. They set a “hold” rating for the company.

Riverview Bancorp Trading Down 0.2 %

Shares of Riverview Bancorp stock traded down $0.01 during midday trading on Friday, reaching $5.53. The company had a trading volume of 40,983 shares, compared to its average volume of 34,997. The stock has a fifty day moving average price of $5.39 and a 200 day moving average price of $5.22. Riverview Bancorp has a fifty-two week low of $3.30 and a fifty-two week high of $5.89. The firm has a market cap of $116.00 million, a PE ratio of 138.28 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.86 and a quick ratio of 0.86.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. On average, equities analysts anticipate that Riverview Bancorp will post 0.2 earnings per share for the current year.

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.