Riverview Bancorp price target lowered to $6.50 from $8.00 at Raymond James

Raymond James analyst David Feaster lowered the firm’s price target on Riverview Bancorp to $6.50 from $8.00 and keeps an Outperform rating on the shares. The firm continues to believe the bank is well positioned going forward, given its enviable core deposit franchise, strong historical asset quality, and well-capitalized balance sheet, and does not believe shares should be trading below tangible book value, the analyst tells investors in a research note.