Riverview Bancorp, Inc. (NASDAQ:RVSB) Director Buys $19,965.00 in Stock

Riverview Bancorp, Inc. (NASDAQ:RVSB) Director Larry Hoff bought 3,300 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was bought at an average price of $6.05 per share, for a total transaction of $19,965.00. Following the purchase, the director now owns 12,100 shares in the company, valued at approximately $73,205. This represents a 37.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Riverview Bancorp Stock Performance

Shares of Riverview Bancorp stock opened at $6.10 on Friday. The firm has a market cap of $127.95 million, a PE ratio of 152.54 and a beta of 0.50. The firm’s 50-day simple moving average is $5.79 and its 200-day simple moving average is $5.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.86 and a current ratio of 0.86. Riverview Bancorp, Inc. has a 1 year low of $3.30 and a 1 year high of $6.59.

Riverview Bancorp (NASDAQ:RVSB) last issued its earnings results 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 business had revenue of $12.90 million for the quarter, compared to analyst estimates of $12.40 million. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. Equities analysts forecast that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp announced that its Board of Directors has authorized a share repurchase 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 buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Riverview Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Monday, April 14th. Riverview Bancorp’s dividend payout ratio is presently 34.78%.

Institutional Investors Weigh In On Riverview Bancorp

Institutional investors have recently modified their holdings of the business. Columbia River Financial Group LLC bought a new stake in shares of Riverview Bancorp during the 1st quarter valued at about $31,000. Jane Street Group LLC bought a new stake in shares of Riverview Bancorp during the 4th quarter valued at about $87,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Riverview Bancorp during the 4th quarter valued at about $224,000. Empowered Funds LLC grew its position in shares of Riverview Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company’s stock valued at $540,000 after buying an additional 4,524 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of Riverview Bancorp by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 254,312 shares of the savings and loans company’s stock valued at $1,460,000 after buying an additional 2,924 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Riverview Bancorp in a research note on Friday, March 7th. They issued a “hold” rating on the stock. Raymond James restated an “outperform” rating and issued a $7.00 target price (up previously from $6.25) on shares of Riverview Bancorp in a research note on Friday, May 2nd.

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.