Nierenberg Investment Manageme Sells 5,000 Shares of Riverview Bancorp (NASDAQ:RVSB) Stock

Key Points

• Nierenberg Investment Management sold 5,000 Riverview Bancorp shares at $5.25 each for $26,250, reducing its position by 5.3% to 89,388 shares.
• Riverview Bancorp shares recently traded at $5.32, within a 52-week range of $4.74 to $6.22. The company’s latest quarterly results missed estimates, reporting $0.03 EPS versus the $0.05 consensus and $13.5 million in revenue versus $14.1 million expected.
• The bank paid a quarterly dividend of $0.02, equivalent to an annualized $0.08 and a 1.5% yield. Analyst sentiment remains weak, with ratings split between Hold and Sell and an overall “Reduce” consensus.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) major shareholder Nierenberg Investment Manageme sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $5.25, for a total value of $26,250.00. Following the completion of the sale, the insider owned 89,388 shares of the company's stock, valued at approximately $469,287. This represents a 5.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Riverview Bancorp Stock Performance

Shares of NASDAQ RVSB traded up $0.00 during midday trading on Tuesday, reaching $5.32. 9,184 shares of the company were exchanged, compared to its average volume of 70,713. The stock has a market cap of $107.27 million, a P/E ratio of -25.36 and a beta of 0.48. Riverview Bancorp Inc has a 1 year low of $4.74 and a 1 year high of $6.22. The stock has a fifty day simple moving average of $5.52 and a 200 day simple moving average of $5.41. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last released its earnings results on Thursday, April 30th. The savings and loans company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $13.50 million for the quarter, compared to analyst estimates of $14.10 million. Riverview Bancorp had a positive return on equity of 2.74% and a negative net margin of 6.70%. On average, research analysts forecast that Riverview Bancorp Inc will post 0.32 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Thursday, July 9th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 9th. Riverview Bancorp's dividend payout ratio (DPR) is presently -38.10%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Riverview Bancorp from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 9th. Wall Street Zen upgraded Riverview Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Riverview Bancorp currently has an average rating of "Reduce".

Hedge Funds Weigh In On Riverview Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Daytona Street Capital LLC acquired a new stake in shares of Riverview Bancorp in the fourth quarter worth $30,000. Raymond James Financial Inc. acquired a new position in shares of Riverview Bancorp during the second quarter worth about $34,000. BNP Paribas Financial Markets boosted its position in shares of 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 worth $34,000 after buying an additional 3,524 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Riverview Bancorp in the second quarter valued at about $53,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Riverview Bancorp in the third quarter valued at about $55,000. 69.60% of the stock is owned by institutional investors and hedge funds.

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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