Riverview Bancorp, Inc. (NASDAQ:RVSB) Stake Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its stake in Riverview Bancorp, Inc. (NASDAQ:RVSB - Free Report) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 943,332 shares of the savings and loans company's stock after purchasing an additional 141,400 shares during the quarter. Ameriprise Financial Inc. owned 4.48% of Riverview Bancorp worth $5,415,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RVSB. Nierenberg Investment Management Company Inc. increased its holdings in shares of Riverview Bancorp by 21.3% in 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Riverview Bancorp in the 4th quarter valued at about $224,000. Pacific Ridge Capital Partners LLC increased its holdings in shares of Riverview Bancorp by 2.4% in 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of Riverview Bancorp in the 4th quarter valued at about $87,000. Finally, Empowered Funds LLC increased its holdings in shares of Riverview Bancorp by 5.0% in 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 in the last quarter. Hedge funds and other institutional investors own 69.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Riverview Bancorp Trading Down 2.1%

Shares of Riverview Bancorp stock traded down $0.12 during mid-day trading on Thursday, hitting $5.58. 69,800 shares of the stock were exchanged, compared to its average volume of 60,035. Riverview Bancorp, Inc. has a twelve month low of $3.30 and a twelve month high of $6.59. The stock has a market capitalization of $117.05 million, a price-to-earnings ratio of 139.53 and a beta of 0.50. The company has a 50-day simple moving average of $5.90 and a 200 day simple moving average of $5.62. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.72.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last released its earnings results on Tuesday, April 29th. The savings and loans company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. The business had revenue of $12.90 million for the quarter, compared to analysts' expectations of $12.40 million. Research analysts forecast that Riverview Bancorp, Inc. will post 0.2 EPS for the current year.

Riverview Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.43%. Riverview Bancorp's dividend payout ratio is presently 34.78%.

Riverview Bancorp declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 29th that allows the company to buyback $2.00 million in outstanding shares. This buyback authorization allows the savings and loans company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other Riverview Bancorp news, major shareholder Martin S. Friedman sold 186,348 shares of Riverview Bancorp stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.18, for a total transaction of $965,282.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have purchased 6,750 shares of company stock valued at $40,685. Insiders own 2.90% of the company's stock.

Riverview Bancorp Profile

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.