Riverview Bancorp (RVSB) got here out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.13 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 25%. 1 / 4 in the past, it was anticipated that this holding firm for Riverview Group Financial institution would publish earnings of $0.15 per share when it really produced earnings of $0.18, delivering a shock of 20%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 3 times.
Riverview Bancorp, which belongs to the Zacks Monetary – Financial savings and Mortgage trade, posted revenues of $14.03 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 6.30%. This compares to year-ago revenues of $13.94 million. The corporate has topped consensus income estimates two occasions during the last 4 quarters.
The sustainability of the inventory’s fast value motion primarily based on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
Riverview Bancorp shares have added about 32.7% for the reason that starting of the 12 months versus the S&P 500’s achieve of 11.4%.
What’s Subsequent for Riverview Bancorp?
Whereas Riverview Bancorp has outperformed the market to this point this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking software just like the Zacks Rank, which has a formidable monitor file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Riverview Bancorp was blended. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in step with the market within the close to future. You may see the entire record of in the present day’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.15 on $13.5 million in revenues for the approaching quarter and $0.60 on $56.6 million in revenues for the present fiscal 12 months.
Traders must be conscious of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Monetary – Financial savings and Mortgage is presently within the high 15% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Riverview Bancorp Inc (RVSB): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.