Ameriprise Financial Inc. Raises Position in Riverview Bancorp, Inc. (NASDAQ:RVSB)

Ameriprise Financial Inc. increased its position in Riverview Bancorp, Inc. (NASDAQ:RVSB - Free Report) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 943,332 shares of the savings and loans company's stock after buying an additional 141,400 shares during the quarter. Ameriprise Financial Inc. owned 4.48% of Riverview Bancorp worth $5,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its position in Riverview Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company's stock valued at $540,000 after purchasing an additional 4,524 shares during the period. Pacific Ridge Capital Partners LLC increased its position in Riverview Bancorp by 2.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 651,442 shares of the savings and loans company's stock valued at $3,739,000 after purchasing an additional 15,395 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Riverview Bancorp during the 4th quarter valued at approximately $224,000. Nierenberg Investment Management Company Inc. increased its position in Riverview Bancorp by 21.3% during the 4th quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company's stock valued at $7,384,000 after purchasing an additional 225,822 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Riverview Bancorp by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company's stock valued at $5,446,000 after purchasing an additional 2,496 shares during the period. Institutional investors and hedge funds own 69.60% of the company's stock.

Insider Activity

In other Riverview Bancorp news, major shareholder Martin S. Friedman sold 186,348 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.18, for a total transaction of $965,282.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 6,750 shares of company stock valued at $40,685 over the last three months. Corporate insiders own 2.90% of the company's stock.

Riverview Bancorp Stock Down 1.8%

RVSB traded down $0.11 during midday trading on Wednesday, reaching $5.72. 98,610 shares of the company were exchanged, compared to its average volume of 59,449. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.86 and a current ratio of 0.86. The company's fifty day moving average price is $5.89 and its 200 day moving average price is $5.61. The company has a market cap of $120.05 million, a price-to-earnings ratio of 143.41 and a beta of 0.50. Riverview Bancorp, Inc. has a one year low of $3.30 and a one year high of $6.59.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The savings and loans company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. The firm had revenue of $12.90 million during the quarter, compared to analyst estimates of $12.40 million. Riverview Bancorp had a return on equity of 2.92% and a net margin of 1.13%. As a group, analysts expect that Riverview Bancorp, Inc. will post 0.2 EPS for the current year.

Riverview Bancorp declared that its board has approved a share buyback program 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign 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 25th. Stockholders of record on Monday, April 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, April 14th. Riverview Bancorp's dividend payout ratio is presently 34.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Raymond James restated an "outperform" rating and set a $7.00 price target (up from $6.25) on shares of Riverview Bancorp in a report on Friday, May 2nd. Wall Street Zen assumed coverage on Riverview Bancorp in a report on Friday, March 7th. They set a "hold" rating on the stock.

About Riverview Bancorp

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.