Riverview Bancorp Inc $RVSB Stake Raised by Nierenberg Investment Management Company Inc.

Nierenberg Investment Management Company Inc. lifted its stake in Riverview Bancorp Inc (NASDAQ:RVSB) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,032,775 shares of the savings and loans company’s stock after purchasing an additional 95,000 shares during the quarter. Riverview Bancorp accounts for approximately 4.7% of Nierenberg Investment Management Company Inc.’s holdings, making the stock its 5th biggest position. Nierenberg Investment Management Company Inc. owned approximately 0.10% of Riverview Bancorp worth $10,916,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in Riverview Bancorp by 539.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company’s stock valued at $3,161,000 after purchasing an additional 484,804 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Riverview Bancorp by 110.2% during the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock valued at $2,533,000 after buying an additional 241,368 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Riverview Bancorp during the second quarter valued at approximately $913,000. Pacific Ridge Capital Partners LLC increased its position in shares of Riverview Bancorp by 10.4% during the third quarter. Pacific Ridge Capital Partners LLC now owns 699,506 shares of the savings and loans company’s stock valued at $3,756,000 after acquiring an additional 66,052 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Riverview Bancorp in the 2nd quarter worth approximately $249,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Riverview Bancorp Stock Performance

Shares of RVSB opened at $5.38 on Tuesday. The firm has a market capitalization of $111.42 million, a P/E ratio of 23.39 and a beta of 0.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.88. Riverview Bancorp Inc has a one year low of $4.74 and a one year high of $6.59. The business has a fifty day moving average of $5.22 and a 200 day moving average of $5.20.

Riverview Bancorp (NASDAQ:RVSB) last announced its earnings results on Thursday, January 29th. The savings and loans company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $14.05 million for the quarter, compared to analysts’ expectations of $13.70 million. Riverview Bancorp had a return on equity of 2.99% and a net margin of 6.41%. As a group, sell-side analysts anticipate that Riverview Bancorp Inc will post 0.2 EPS for the current year.

Riverview Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, January 5th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, January 5th. Riverview Bancorp’s payout ratio is 34.78%.

Riverview Bancorp announced that its board has approved a stock repurchase program on Wednesday, January 28th that authorizes the company to repurchase $4.00 million in shares. This repurchase authorization authorizes the savings and loans company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Zacks Research upgraded Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Riverview Bancorp in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered Riverview Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc (NASDAQ: RVSB) is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company’s deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.