Nierenberg Investment Management Company LLC Makes New $11.04 Million Investment in Riverview Bancorp Inc $RVSB

Nierenberg Investment Management Company LLC bought a new position in shares of Riverview Bancorp Inc (NASDAQ:RVSB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,032,775 shares of the savings and loans company’s stock, valued at approximately $11,037,968. Riverview Bancorp makes up about 0.0% of Nierenberg Investment Management Company LLC’s investment portfolio, making the stock its 7th largest position. Nierenberg Investment Management Company LLC owned approximately 10.08% of Riverview Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Riverview Bancorp in the second quarter worth $34,000. BNP Paribas Financial Markets increased its holdings in Riverview Bancorp by 122.9% during the third quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock worth $34,000 after buying an additional 3,524 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Riverview Bancorp in the 2nd quarter worth $53,000. Intech Investment Management LLC purchased a new stake in shares of Riverview Bancorp in the 3rd quarter worth about $55,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Riverview Bancorp in the 2nd quarter worth $59,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Riverview Bancorp Stock Performance

NASDAQ RVSB traded up $0.02 on Friday, reaching $5.20. 3,354 shares of the stock were exchanged, compared to its average volume of 69,175. The company’s 50-day simple moving average is $5.33 and its two-hundred day simple moving average is $5.42. The firm has a market capitalization of $103.74 million, a PE ratio of -27.37 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. Riverview Bancorp Inc has a one year low of $4.74 and a one year high of $6.22.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings data on Wednesday, July 29th. The savings and loans company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $15.01 million for the quarter, compared to analyst estimates of $14.80 million. Riverview Bancorp had a positive return on equity of 3.12% and a negative net margin of 5.87%. Analysts expect that Riverview Bancorp Inc will post 0.28 EPS for the current fiscal year.

Riverview Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Thursday, July 9th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 9th. Riverview Bancorp’s payout ratio is -42.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RVSB shares. Weiss Ratings upgraded Riverview Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Wall Street Zen upgraded shares of Riverview Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Insider Buying and Selling at Riverview Bancorp

In related news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $5.25, for a total value of $26,250.00. Following the transaction, the insider directly owned 89,388 shares of the company’s stock, valued at approximately $469,287. The trade was a 5.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have acquired 4,400 shares of company stock valued at $23,118. Insiders own 3.90% of the company’s stock.

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.