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

Riverview Bancorp, Inc. (NASDAQ:RVSB) saw 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. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 49,200 shares, the days-to-cover ratio is currently 2.4 days.

Riverview Bancorp Stock Down 0.2 %

Shares of Riverview Bancorp stock opened at $5.53 on Monday. The company has a fifty day moving average price of $5.39 and a 200 day moving average price of $5.23. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.72. Riverview Bancorp has a twelve month low of $3.30 and a twelve month high of $5.89. The stock has a market cap of $116.00 million, a price-to-earnings ratio of 138.28 and a beta of 0.75.

Riverview Bancorp (NASDAQ:RVSB) last posted its earnings results on Thursday, January 30th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that Riverview Bancorp will post 0.2 earnings per share for the current fiscal year.

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 dated Tuesday, February 11th. The stock was sold at an average price of $5.49, for a total value of $277,245.00. Following the transaction, the insider now directly owns 186,348 shares in the company, valued at $1,023,050.52. This trade represents a 21.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by company insiders.

Institutional Trading of Riverview Bancorp

Hedge funds have recently made changes to their positions in the company. Nierenberg Investment Management Company Inc. increased its position 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 acquiring an additional 225,822 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in 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. Ameriprise Financial Inc. increased its holdings in Riverview Bancorp by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 943,332 shares of the savings and loans company’s stock worth $5,415,000 after purchasing an additional 141,400 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of Riverview Bancorp by 2.4% during 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 buying an additional 15,395 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of Riverview Bancorp by 1.2% during the fourth 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. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Riverview Bancorp in a research report on Friday, March 7th. 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.