Riverview Bancorp (NASDAQ:RVSB) Director Buys 3,600 Shares

Key Points

• Director insider buying: Kourosh Nasser Zamanizadeh purchased 3,600 Riverview Bancorp shares at an average price of $5.38, increasing his position by 30.31% to 15,477 shares.
• Stock and earnings: RVSB shares rose 1.6% to $5.67. The company reported quarterly EPS of $0.08, exceeding analysts’ $0.07 estimate, while revenue of $15.01 million also topped expectations.
• Analyst outlook remains cautious: Analysts maintain an average “Reduce” rating, with one Hold and one Sell rating. Institutional investors own approximately 69.6% of the company’s shares.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) Director Kourosh Nasser Zamanizadeh bought 3,600 shares of the business's stock in a transaction dated Monday, September 14th. The stock was purchased at an average price of $5.38 per share, for a total transaction of $19,368.00. Following the acquisition, the director directly owned 15,477 shares of the company's stock, valued at approximately $83,266.26. The trade was a 30.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Riverview Bancorp Trading Up 1.6%

Riverview Bancorp stock traded up $0.09 during trading hours on Tuesday, reaching $5.67. The stock had a trading volume of 32,100 shares, compared to its average volume of 67,493. The stock has a market cap of $113.12 million, a PE ratio of -29.84 and a beta of 0.48. The company has a fifty day simple moving average of $5.28 and a 200-day simple moving average of $5.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.93 and a quick ratio of 0.93. Riverview Bancorp Inc has a 52 week low of $4.81 and a 52 week high of $6.22.

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

Riverview Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th were issued a $0.02 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.08 dividend on an annualized basis and a yield of 1.4%. Riverview Bancorp's dividend payout ratio is -42.11%.

Institutional Trading of Riverview Bancorp

A number of institutional investors have recently modified their holdings of the company. Nierenberg Investment Management Company LLC acquired a new stake in Riverview Bancorp during the second quarter worth about $11,037,968. Dimensional Fund Advisors LP boosted its holdings in Riverview Bancorp by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,336,020 shares of the savings and loans company's stock worth $7,349,000 after buying an additional 15,745 shares in the last quarter. BlackRock Inc. purchased a new position in Riverview Bancorp in the second quarter valued at $7,042,000. The Manufacturers Life Insurance Company acquired a new position in shares of Riverview Bancorp in the second quarter worth about $5,767,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Riverview Bancorp by 21.1% during the 1st quarter. Renaissance Technologies LLC now owns 319,207 shares of the savings and loans company's stock worth $1,756,000 after acquiring an additional 55,700 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RVSB shares. Weiss Ratings raised Riverview Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded Riverview Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce".

About Riverview Bancorp

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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