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Riverview Bancorp (RVSB) Stock Jumps 5.5%: Will It Continue to Soar?
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Riverview Bancorp (RVSB - Free Report) shares soared 5.5% in the last trading session to close at $5.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.9% loss over the past four weeks.
Shares of Riverview Bancorp gained in yesterday’s trading session. Banks’ performances are expected to improve on high interest rates and decent loan demand. The Federal Reserve hiked interest rates to 4.75-5% in March 2023, the highest since 2008, to bring down the inflation. This led to bullish investor sentiments, which drove the RVSB stock.
This holding company for Riverview Community Bank is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $15.6 million, up 4.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Riverview Bancorp, the consensus EPS estimate for the quarter has been revised 10% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RVSB going forward to see if this recent jump can turn into more strength down the road.
Riverview Bancorp is part of the Zacks Financial - Savings and Loan industry. Flushing Financial (FFIC - Free Report) , another stock in the same industry, closed the last trading session 0.6% lower at $14.27. FFIC has returned -8% in the past month.
For Flushing Financial, the consensus EPS estimate for the upcoming report has changed -4.7% over the past month to $0.34. This represents a change of -44.3% from what the company reported a year ago. Flushing Financial currently has a Zacks Rank of #4 (Sell).
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Riverview Bancorp (RVSB) Stock Jumps 5.5%: Will It Continue to Soar?
Riverview Bancorp (RVSB - Free Report) shares soared 5.5% in the last trading session to close at $5.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.9% loss over the past four weeks.
Shares of Riverview Bancorp gained in yesterday’s trading session. Banks’ performances are expected to improve on high interest rates and decent loan demand. The Federal Reserve hiked interest rates to 4.75-5% in March 2023, the highest since 2008, to bring down the inflation. This led to bullish investor sentiments, which drove the RVSB stock.
This holding company for Riverview Community Bank is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $15.6 million, up 4.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Riverview Bancorp, the consensus EPS estimate for the quarter has been revised 10% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RVSB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Riverview Bancorp is part of the Zacks Financial - Savings and Loan industry. Flushing Financial (FFIC - Free Report) , another stock in the same industry, closed the last trading session 0.6% lower at $14.27. FFIC has returned -8% in the past month.
For Flushing Financial, the consensus EPS estimate for the upcoming report has changed -4.7% over the past month to $0.34. This represents a change of -44.3% from what the company reported a year ago. Flushing Financial currently has a Zacks Rank of #4 (Sell).