Insider Buying: Riverview Bancorp, Inc. (NASDAQ:RVSB) CEO Buys 2,450 Shares of Stock

Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report) CEO Nicole Sherman acquired 2,450 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average price of $6.11 per share, with a total value of $14,969.50. Following the completion of the transaction, the chief executive officer now directly owns 160,516 shares in the company, valued at approximately $980,752.76. The trade was a 1.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Riverview Bancorp Trading Down 0.9%

RVSB stock traded down $0.05 during midday trading on Tuesday, hitting $5.74. The stock had a trading volume of 109,977 shares, compared to its average volume of 98,612. The company's 50-day moving average price is $5.88 and its 200 day moving average price is $5.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $120.32 million, a PE ratio of 144.66 and a beta of 0.50. Riverview Bancorp, Inc. has a 12-month low of $3.30 and a 12-month high of $6.59.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The savings and loans company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The business had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.40 million. Riverview Bancorp had a return on equity of 2.92% and a net margin of 1.13%. On average, equities research analysts predict that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, April 14th. Riverview Bancorp's dividend payout ratio (DPR) is 34.78%.

Riverview Bancorp declared that its board has approved a share buyback plan on Tuesday, April 29th that authorizes the company to buyback $2.00 million in shares. This buyback authorization authorizes the savings and loans company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RVSB. Raymond James reiterated an "outperform" rating and set a $7.00 price objective (up previously from $6.25) on shares of Riverview Bancorp in a research report on Friday, May 2nd. Wall Street Zen initiated coverage on shares of Riverview Bancorp in a research note on Friday, March 7th. They set a "hold" rating on the stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Columbia River Financial Group LLC acquired a new position in Riverview Bancorp during the first quarter worth approximately $31,000. Jane Street Group LLC purchased a new stake in shares of Riverview Bancorp during the 4th quarter valued at $87,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Riverview Bancorp during the 4th quarter valued at $224,000. Empowered Funds LLC increased its holdings in shares of 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 worth $540,000 after buying an additional 4,524 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Riverview Bancorp by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 254,312 shares of the savings and loans company's stock worth $1,460,000 after buying an additional 2,924 shares during the period. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Riverview Bancorp Company 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.