Riverview Bancorp (NASDAQ:RVSB – Get Rating) reported results on Thursday. The savings and loan company reported earnings of $0.24 per share for the quarter, hitting consensus expectations of $0.24, Yahoo Finance reports. Riverview Bancorp’s return on equity was 12.53% and net profit margin was 30.17%. The company posted revenue of $17.41 million for the quarter, compared to consensus expectations of $16.8 million.
Riverview Bancorp Stock Performance
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NASDAQ:RVSB shares opened Friday at $7.20. The company has a market capitalization of $154.85 million, a PE ratio of 8.05 and a beta of 0.78. The company has a debt to equity ratio of 0.20, a current ratio of 0.74 and a quick ratio of 0.74. The business has a 50-day moving average of $7.53 and a 200-day moving average of $7.08. Riverview Bancorp has a 12-month low of $6.08 and a 12-month high of $8.00.
Riverview Bancorp Announces Dividend
The company recently announced a quarterly dividend, which was paid out on Monday, January 16th. Shareholders of record on Wednesday, January 4, were paid a dividend of $0.06 per share. The ex-dividend date for this dividend was Tuesday, January 3. This represents an annualized dividend of $0.24 and his 3.33% yield. Riverview Bancorp’s dividend payout ratio is currently 26.97%.
insider bet
In other news, director Larry Hoff purchased 8,800 shares of the company’s stock in a transaction on Monday, November 7th. Shares were purchased at an average of $6.96 per share, with a total trading value of $61,248.00 for him. Following the closing of the acquisition, the directors now directly own 8,800 shares of the Company’s stock valued at approximately $61,248. The acquisition is disclosed in legal documents to the Securities and Exchange Commission, which can be accessed on his website at the SEC. His 7.00% of shares are now owned by insiders.
Institutional investor joins Riverview Bancorp
Several institutional investors and hedge funds have recently increased or decreased their stakes in RVSB. Advisor Group Holdings Inc. increased his stake in Riverview Bancorp stock by 33.5% in the first quarter. Advisor Group Holdings Inc. now owns 8,029 shares of the savings and loan company worth $60,000 after purchasing an additional 2,014 shares of him last quarter. Tower Research Capital LLC TRC increased its stake in Riverview Bancorp by 3,162.1% in the third quarter. Tower Research Capital LLC TRC now owns 11,352 shares of the savings and lending company worth $72,000 after he purchased an additional 11,004 shares last quarter. Envestnet Asset Management Inc. acquired a new stake in Riverview Bancorp worth approximately $94,000 in the second quarter. Millennium Management LLC increased its stake in Riverview Bancorp by 53.0% in the second quarter. Millennium Management LLC now owns 21,425 shares of the savings and lending company valued at $141,000 after purchasing an additional 7,420 shares in the previous quarter. Finally, State Street Corp increased its stake in Riverview Bancorp by 3.5% in the second quarter. State Street Corp owns 109,683 shares of the savings and loan company worth $722,000 after purchasing an additional 3,700 shares last quarter. Currently 63.04% of the shares are owned by institutional investors and hedge funds.
Analyst sets new price target
Separately, StockNews.com began coverage of Riverview Bancorp in its investigative report on Tuesday. They have set a “buy” rating on the stock.
About Riverview Bancorp
(get rating)
Riverview Bancorp, Inc operates as a holding company. We provide community banking services to small businesses, professionals and individuals. We offer a variety of deposit products including demand deposits, negotiable withdrawal accounts, money market accounts, savings accounts, certificates of deposit and retirement savings plans.
References
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