Key Points
- Nierenberg Investment Management sold 5,000 Riverview Bancorp shares at an average price of $5.25, generating $26,250. The sale reduced its holdings by 5.3% to 89,388 shares.
- Riverview Bancorp reported quarterly earnings of $0.08 per share, beating estimates by $0.01, while revenue of $15.01 million also exceeded expectations. The company declared a quarterly dividend of $0.02 per share, implying a 1.5% yield.
- Institutional investors own 69.6% of the stock, with several funds recently increasing their positions. Analyst sentiment remains cautious, with one Hold and one Sell rating producing a consensus “Reduce” rating.
Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) major shareholder Nierenberg Investment Manageme sold 5,000 shares of Riverview Bancorp 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 sale, the insider owned 89,388 shares of the company's stock, valued at approximately $469,287. This represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Riverview Bancorp Trading Up 0.9%
Shares of NASDAQ RVSB opened at $5.37 on Wednesday. The stock has a market cap of $108.26 million, a price-to-earnings ratio of -25.57 and a beta of 0.48. The business has a 50 day simple moving average of $5.51 and a 200 day simple moving average of $5.41. Riverview Bancorp Inc has a 52 week low of $4.74 and a 52 week high of $6.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 0.94.
Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The savings and loans company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $15.01 million for the quarter, compared to analyst estimates of $14.80 million. Riverview Bancorp had a negative net margin of 6.70% and a positive return on equity of 2.74%. On average, research analysts predict that Riverview Bancorp Inc will post 0.32 earnings per share for the current fiscal year.
Riverview Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Thursday, July 9th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. Riverview Bancorp's dividend payout ratio is -38.10%.
Hedge Funds Weigh In On Riverview Bancorp
Several large investors have recently made changes to their positions in RVSB. Arrowstreet Capital Limited Partnership boosted its stake in Riverview Bancorp by 539.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 574,723 shares of the savings and loans company's stock valued at $3,161,000 after purchasing an additional 484,804 shares during the period. Geode Capital Management LLC grew its holdings in Riverview Bancorp by 110.2% in the 2nd quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company's stock valued at $2,533,000 after buying an additional 241,368 shares during the last quarter. Marshall Wace LLP bought a new position in Riverview Bancorp in the 2nd quarter worth approximately $913,000. Two Sigma Investments LP increased its position in Riverview Bancorp by 719.8% in the 3rd quarter. Two Sigma Investments LP now owns 82,440 shares of the savings and loans company's stock worth $443,000 after buying an additional 72,384 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Riverview Bancorp by 109.0% during the first quarter. Sei Investments Co. now owns 127,602 shares of the savings and loans company's stock worth $702,000 after buying an additional 66,552 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Riverview Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings downgraded shares of Riverview Bancorp from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce".
Check Out Our Latest Stock Report on RVSB
Riverview Bancorp Company Profile
(
Get Free Report)
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.
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