Riverview Bancorp Inc $RVSB Stock Position Increased by Nierenberg Investment Management Company Inc.

Nierenberg Investment Management Company Inc. boosted its holdings in Riverview Bancorp Inc (NASDAQ:RVSB) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,032,775 shares of the savings and loans company’s stock after buying an additional 95,000 shares during the period. Riverview Bancorp makes up 4.7% of Nierenberg Investment Management Company Inc.’s investment portfolio, making the stock its 5th biggest holding. Nierenberg Investment Management Company Inc. owned approximately 9.80% of Riverview Bancorp worth $10,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RVSB. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Riverview Bancorp during the 2nd quarter valued at $249,000. Bank of America Corp DE grew its holdings in Riverview Bancorp by 9.4% during the 2nd quarter. Bank of America Corp DE now owns 87,449 shares of the savings and loans company’s stock valued at $481,000 after buying an additional 7,539 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Riverview Bancorp during the 2nd quarter valued at about $34,000. Occudo Quantitative Strategies LP bought a new stake in shares of Riverview Bancorp during the second quarter valued at about $88,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Riverview Bancorp in the second quarter worth about $61,000. Institutional investors own 69.60% of the company’s stock.

Analyst Ratings Changes

RVSB has been the subject of several recent analyst reports. Zacks Research raised shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Riverview Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Riverview Bancorp in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Riverview Bancorp currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Riverview Bancorp Stock Performance

Shares of Riverview Bancorp stock opened at $5.38 on Tuesday. Riverview Bancorp Inc has a 12 month low of $4.74 and a 12 month high of $6.59. 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 current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $5.22 and a two-hundred day simple moving average of $5.20.

Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Thursday, January 29th. The savings and loans company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Riverview Bancorp had a net margin of 6.41% and a return on equity of 2.99%. The firm had revenue of $14.05 million for the quarter, compared to the consensus estimate of $13.70 million. On average, equities analysts forecast that Riverview Bancorp Inc will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Dividend Announcement

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

Riverview Bancorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 28th that authorizes the company to buyback $4.00 million in shares. This buyback authorization authorizes the savings and loans company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.