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

Riverview Bancorp, Inc. (NASDAQ:RVSB) CEO Nicole Sherman acquired 2,450 shares of the stock in a transaction dated Tuesday, May 20th. The shares were bought 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 $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 is available at this link.

Riverview Bancorp Trading Down 1.7%

NASDAQ RVSB opened at $5.79 on Friday. The stock has a market capitalization of $121.45 million, a price-to-earnings ratio of 144.79 and a beta of 0.50. The stock’s 50 day moving average price is $5.88 and its two-hundred day moving average price is $5.59. 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 52 week low of $3.30 and a 52 week high of $6.59.

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

Riverview Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, April 14th. Riverview Bancorp’s payout ratio is 34.78%.

Riverview Bancorp declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 29th that authorizes the company to repurchase $2.00 million in shares. This repurchase authorization authorizes the savings and loans company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

RVSB has been the topic of several recent research reports. Raymond James reissued an “outperform” rating and issued a $7.00 price target (up previously from $6.25) on shares of Riverview Bancorp in a research note on Friday, May 2nd. Wall Street Zen started coverage on Riverview Bancorp in a research note on Friday, March 7th. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Riverview Bancorp

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC grew its holdings in shares of Riverview Bancorp by 204.1% in the 1st quarter. Jane Street Group LLC now owns 46,318 shares of the savings and loans company’s stock valued at $262,000 after acquiring an additional 31,085 shares in the last quarter. Empowered Funds LLC increased its position in shares of Riverview Bancorp by 7.4% during the 1st quarter. Empowered Funds LLC now owns 101,394 shares of the savings and loans company’s stock worth $573,000 after purchasing an additional 6,988 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of Riverview Bancorp by 17.0% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 761,908 shares of the savings and loans company’s stock worth $4,305,000 after purchasing an additional 110,466 shares during the last quarter. Columbia River Financial Group LLC acquired a new position in shares of Riverview Bancorp during the 1st quarter worth approximately $31,000. Finally, Bridgeway Capital Management LLC increased 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 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.

Riverview Bancorp Company Profile

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.