Larry Hoff Purchases 3,300 Shares of Riverview Bancorp, Inc. (NASDAQ:RVSB) Stock

Riverview Bancorp, Inc. (NASDAQ:RVSB) Director Larry Hoff acquired 3,300 shares of the stock in a transaction dated Tuesday, May 13th. The shares were bought at an average cost of $6.05 per share, with a total value of $19,965.00. Following the completion of the purchase, the director now directly owns 12,100 shares in the company, valued at approximately $73,205. This trade represents a 37.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Riverview Bancorp Price Performance

Shares of Riverview Bancorp stock opened at $6.12 on Thursday. The company has a fifty day moving average price of $5.77 and a 200 day moving average price of $5.53. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.72. Riverview Bancorp, Inc. has a twelve month low of $3.30 and a twelve month high of $6.59. The stock has a market cap of $128.37 million, a price-to-earnings ratio of 153.04 and a beta of 0.50.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings results on Tuesday, April 29th. The savings and loans company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.92%. The firm had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.40 million. Equities research analysts forecast that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were given a $0.02 dividend. The ex-dividend date was Monday, April 14th. This represents a $0.08 dividend on an annualized basis and a yield of 1.31%. Riverview Bancorp’s payout ratio is currently 34.78%.

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

Wall Street Analyst Weigh In

RVSB has been the subject of several research reports. StockNews.com initiated coverage on shares of Riverview Bancorp in a research note on Friday, March 7th. They set a “hold” rating for the company. Raymond James reissued an “outperform” rating and set a $7.00 price objective (up from $6.25) on shares of Riverview Bancorp in a research note on Friday, May 2nd.

Hedge Funds Weigh In On Riverview Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Columbia River Financial Group LLC purchased a new position in Riverview Bancorp in the 1st quarter valued at about $31,000. Jane Street Group LLC purchased a new position in Riverview Bancorp in the 4th quarter valued at about $87,000. Arrowstreet Capital Limited Partnership purchased a new position in Riverview Bancorp in the 4th quarter valued at about $224,000. Empowered Funds LLC boosted its position in Riverview Bancorp by 5.0% in the 4th quarter. Empowered Funds LLC now owns 94,406 shares of the savings and loans company’s stock valued at $540,000 after buying an additional 4,524 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in 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 valued at $1,460,000 after buying an additional 2,924 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

About Riverview Bancorp

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.