Larry Hoff Acquires 1,920 Shares of Riverview Bancorp (NASDAQ:RVSB) Stock

Key Points

• Larry Hoff, a Riverview Bancorp director, purchased 1,920 shares on May 5 at an average of $5.21, increasing his stake by 15.87% to 14,020 shares (≈$73,044).
• The company reported a quarter of $0.03 EPS, missing the $0.05 consensus and posting just $2.15M in revenue (vs. $14.10M expected), with a negative net margin and a market cap of about $113M.
• Riverview's board approved a $4.0 million share buyback (up to ~3.8% of shares) and the firm recently paid a $0.02 quarterly dividend (annualized $0.08, ~1.5% yield).

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) Director Larry Hoff bought 1,920 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $5.21 per share, for a total transaction of $10,003.20. Following the completion of the purchase, the director owned 14,020 shares of the company's stock, valued at approximately $73,044.20. The trade was a 15.87% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Riverview Bancorp Stock Up 3.8%

Shares of NASDAQ RVSB traded up $0.20 during trading on Thursday, reaching $5.45. The company had a trading volume of 38,336 shares, compared to its average volume of 46,721. Riverview Bancorp Inc has a 12-month low of $4.74 and a 12-month high of $6.31. The stock has a market cap of $112.87 million, a PE ratio of -25.95 and a beta of 0.46. The business's 50-day moving average is $5.40 and its 200 day moving average is $5.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.55.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last released its earnings results on Tuesday, April 28th. The savings and loans company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). Riverview Bancorp had a positive return on equity of 2.67% and a negative net margin of 6.70%.The company had revenue of $2.15 million during the quarter, compared to analysts' expectations of $14.10 million. As a group, equities analysts forecast that Riverview Bancorp Inc will post 0.32 earnings per share for the current fiscal year.

Riverview Bancorp announced that its board has approved a stock repurchase plan on Wednesday, January 28th that allows the company to buyback $4.00 million in outstanding shares. This buyback authorization allows the savings and loans company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Riverview Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Monday, April 13th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 13th. Riverview Bancorp's dividend payout ratio is currently -38.10%.

Institutional Investors Weigh In On Riverview Bancorp

Institutional investors have recently modified their holdings of the business. CWM LLC purchased a new stake in shares of Riverview Bancorp during the third quarter valued at $30,000. Daytona Street Capital LLC bought a new position in Riverview Bancorp in the fourth quarter valued at about $30,000. Raymond James Financial Inc. bought a new position in Riverview Bancorp in the second quarter valued at about $34,000. BNP Paribas Financial Markets lifted its holdings in Riverview Bancorp by 122.9% in the third quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company's stock valued at $34,000 after acquiring an additional 3,524 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in Riverview Bancorp in the second quarter valued at about $53,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RVSB shares. Wall Street Zen cut Riverview Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Riverview Bancorp in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold".

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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