Larry Hoff Purchases 1,920 Shares of Riverview Bancorp (NASDAQ:RVSB) Stock

Riverview Bancorp Inc (NASDAQ:RVSB) Director Larry Hoff bought 1,920 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $5.21 per share, for a total transaction of $10,003.20. Following the completion of the purchase, the director owned 14,020 shares in the company, valued at $73,044.20. The trade was a 15.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Riverview Bancorp Stock Up 1.1%

Shares of RVSB stock opened at $5.51 on Friday. Riverview Bancorp Inc has a 1-year low of $4.74 and a 1-year high of $6.31. The stock’s fifty day moving average price is $5.40 and its 200 day moving average price is $5.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $114.11 million, a price-to-earnings ratio of -26.24 and a beta of 0.46.

Riverview Bancorp (NASDAQ:RVSB) last announced its earnings results on Tuesday, April 28th. The savings and loans company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Riverview Bancorp had a positive return on equity of 2.67% and a negative net margin of 6.70%.The business had revenue of $2.15 million for the quarter, compared to analysts’ expectations of $14.10 million. On average, research analysts expect that Riverview Bancorp Inc will post 0.32 earnings per share for the current fiscal year.

Riverview Bancorp declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 28th that allows the company to buyback $4.00 million in outstanding shares. This buyback authorization allows the savings and loans company to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Riverview Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Monday, April 13th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, April 13th. Riverview Bancorp’s payout ratio is -38.10%.

Analyst Ratings Changes

Several brokerages recently weighed in on RVSB. Wall Street Zen downgraded Riverview Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Riverview Bancorp in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Hedge Funds Weigh In On Riverview Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Riverview Bancorp by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,336,020 shares of the savings and loans company’s stock valued at $7,349,000 after buying an additional 15,745 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Riverview Bancorp by 124.9% in the 1st quarter. Hsbc Holdings PLC now owns 36,101 shares of the savings and loans company’s stock valued at $201,000 after buying an additional 20,052 shares during the period. Empowered Funds LLC lifted its holdings in shares of Riverview Bancorp by 6.3% in the 4th quarter. Empowered Funds LLC now owns 128,293 shares of the savings and loans company’s stock valued at $644,000 after buying an additional 7,575 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of Riverview Bancorp by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 275,199 shares of the savings and loans company’s stock valued at $1,381,000 after buying an additional 7,575 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Riverview Bancorp by 22.7% in the 4th quarter. AQR Capital Management LLC now owns 66,380 shares of the savings and loans company’s stock valued at $333,000 after buying an additional 12,261 shares during the period. Institutional investors and hedge funds 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.