Nicole Sherman Buys 2,450 Shares of Riverview Bancorp, Inc. (NASDAQ:RVSB) Stock

Riverview Bancorp, Inc. (NASDAQ:RVSB) CEO Nicole Sherman acquired 2,450 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was acquired at an average cost of $6.11 per share, with a total value of $14,969.50. Following the transaction, the chief executive officer now directly owns 160,516 shares of the company’s stock, valued at approximately $980,752.76. This represents a 1.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Riverview Bancorp Price Performance

RVSB opened at $6.04 on Thursday. The firm’s fifty day moving average price is $5.85 and its two-hundred day moving average price is $5.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.86 and a quick ratio of 0.86. Riverview Bancorp, Inc. has a 1 year low of $3.30 and a 1 year high of $6.59. The company has a market capitalization of $126.59 million, a price-to-earnings ratio of 152.76 and a beta of 0.50.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings data on Tuesday, April 29th. The savings and loans company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $12.90 million for the quarter, compared to analysts’ expectations of $12.40 million. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. As a group, analysts anticipate that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were paid a dividend of $0.02 per share. The ex-dividend date was Monday, April 14th. This represents a $0.08 dividend on an annualized basis and a yield of 1.33%. Riverview Bancorp’s dividend payout ratio is currently 34.78%.

Riverview Bancorp announced that its Board of Directors has approved a share buyback plan on Tuesday, April 29th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the savings and loans company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Riverview Bancorp

Several institutional investors and hedge funds have recently modified their holdings of RVSB. Nierenberg Investment Management Company Inc. grew its position in Riverview Bancorp by 21.3% in the 4th quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company’s stock valued at $7,384,000 after acquiring an additional 225,822 shares during the last quarter. Empowered Funds LLC grew its holdings in Riverview Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company’s stock worth $540,000 after acquiring an additional 4,524 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Riverview Bancorp in the 4th quarter valued at $224,000. Pacific Ridge Capital Partners LLC boosted its holdings 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 worth $3,739,000 after purchasing an additional 15,395 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in 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 purchasing an additional 2,924 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James reissued an “outperform” rating and issued a $7.00 price objective (up from $6.25) on shares of Riverview Bancorp in a research note on Friday, May 2nd. StockNews.com began coverage on shares of Riverview Bancorp in a research report on Friday, March 7th. They issued 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.