Riverview Bancorp (NASDAQ:RVSB) Director Bessie Ross Wills Purchases 3,000 Shares of Stock

Riverview Bancorp Inc (NASDAQ:RVSB) Director Bessie Ross Wills bought 3,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was purchased at an average price of $5.39 per share, for a total transaction of $16,170.00. Following the completion of the purchase, the director directly owned 48,000 shares in the company, valued at approximately $258,720. This represents a 6.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Riverview Bancorp Price Performance

Shares of RVSB traded up $0.07 during mid-day trading on Friday, reaching $5.42. 41,670 shares of the stock traded hands, compared to its average volume of 53,664. The company has a market cap of $112.25 million, a price-to-earnings ratio of 23.57 and a beta of 0.62. Riverview Bancorp Inc has a 1 year low of $4.74 and a 1 year high of $6.59. The firm has a fifty day moving average price of $5.23 and a 200 day moving average price of $5.18. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings data on Thursday, January 29th. The savings and loans company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.70 million. Riverview Bancorp had a return on equity of 2.99% and a net margin of 6.41%. As a group, equities research analysts predict that Riverview Bancorp Inc will post 0.2 earnings per share for the current year.

Riverview Bancorp declared that its board has approved a share buyback 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 buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Riverview Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RVSB. Wall Street Zen cut Riverview Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Zacks Research upgraded shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Riverview Bancorp in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its stake in Riverview Bancorp by 539.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company’s stock worth $3,161,000 after acquiring an additional 484,804 shares during the period. Nierenberg Investment Management Company Inc. increased its position in shares of Riverview Bancorp by 18.7% during the second quarter. Nierenberg Investment Management Company Inc. now owns 1,937,775 shares of the savings and loans company’s stock valued at $10,658,000 after buying an additional 304,741 shares during the period. Geode Capital Management LLC raised its stake in Riverview Bancorp by 110.2% in the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock worth $2,533,000 after buying an additional 241,368 shares in the last quarter. Marshall Wace LLP purchased a new stake in Riverview Bancorp in the second quarter worth about $913,000. Finally, Two Sigma Investments LP boosted its position in Riverview Bancorp by 719.8% during the 3rd quarter. Two Sigma Investments LP now owns 82,440 shares of the savings and loans company’s stock valued at $443,000 after acquiring an additional 72,384 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.

About Riverview Bancorp

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.