1,062,090 Shares in Riverview Bancorp Inc $RVSB Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of Riverview Bancorp Inc (NASDAQ:RVSB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,062,090 shares of the savings and loans company's stock, valued at approximately $5,767,000. The Manufacturers Life Insurance Company owned about 5.27% of Riverview Bancorp as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in Riverview Bancorp by 7.4% in the first 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. Jane Street Group LLC lifted its holdings in shares of Riverview Bancorp by 204.1% during 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 purchasing an additional 31,085 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 worth $2,533,000 after purchasing an additional 241,368 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Riverview Bancorp in the 2nd quarter worth $53,000. Finally, American Century Companies Inc. grew its stake in Riverview Bancorp by 3.8% during the 2nd quarter. American Century Companies Inc. now owns 115,638 shares of the savings and loans company's stock worth $636,000 after buying an additional 4,206 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RVSB has been the topic of several recent analyst reports. Wall Street Zen raised Riverview Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Weiss Ratings raised Riverview Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 25th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce".

Riverview Bancorp Price Performance

Shares of NASDAQ:RVSB opened at $5.20 on Tuesday. Riverview Bancorp Inc has a twelve month low of $4.74 and a twelve month high of $6.22. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. The company has a market cap of $103.74 million, a PE ratio of -27.37 and a beta of 0.49. The company's 50 day moving average is $5.31 and its 200 day moving average is $5.42.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The savings and loans company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $15.01 million during the quarter, compared to analysts' expectations of $14.80 million. Riverview Bancorp had a negative net margin of 5.87% and a positive return on equity of 3.12%. On average, sell-side analysts forecast that Riverview Bancorp Inc will post 0.28 EPS for the current year.

Riverview Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Thursday, July 9th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 9th. Riverview Bancorp's dividend payout ratio (DPR) is -42.11%.

Insider Buying and Selling

In other Riverview Bancorp news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the company's stock in a transaction on 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 4,250 shares of company stock valued at $22,288 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

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.

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