Insider Selling: Riverview Bancorp, Inc. (NASDAQ:RVSB) Major Shareholder Sells 50,500 Shares of Stock

Riverview Bancorp, Inc. (NASDAQ:RVSB) major shareholder Martin S. Friedman sold 50,500 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total transaction of $277,245.00. Following the transaction, the insider now owns 186,348 shares of the company’s stock, valued at approximately $1,023,050.52. The trade was a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Riverview Bancorp Price Performance

Shares of RVSB remained flat at $5.35 on Thursday. The stock had a trading volume of 8,834 shares, compared to its average volume of 31,526. The firm has a market cap of $112.72 million, a price-to-earnings ratio of 133.78 and a beta of 0.77. Riverview Bancorp, Inc. has a 1-year low of $3.30 and a 1-year high of $5.89. The stock’s 50 day moving average is $5.65 and its 200-day moving average is $5.06. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.86 and a current ratio of 0.86.

Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings results on Thursday, January 30th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Riverview Bancorp had a net margin of 1.13% and a return on equity of 2.93%. As a group, equities research analysts forecast that Riverview Bancorp, Inc. will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Thursday, January 2nd were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, January 2nd. Riverview Bancorp’s dividend payout ratio is currently 200.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nierenberg Investment Management Company Inc. boosted its holdings in shares of Riverview Bancorp by 21.3% in the 4th quarter. Nierenberg Investment Management Company Inc. now owns 1,286,422 shares of the savings and loans company’s stock worth $7,384,000 after acquiring an additional 225,822 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Riverview Bancorp in the 4th quarter valued at $224,000. Pacific Ridge Capital Partners LLC lifted its stake in shares of Riverview Bancorp by 2.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 651,442 shares of the savings and loans company’s stock valued at $3,739,000 after purchasing an additional 15,395 shares during the period. Empowered Funds LLC increased its position in shares of 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Riverview Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 209,781 shares of the savings and loans company’s stock valued at $988,000 after buying an additional 5,551 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Riverview Bancorp in a research report on Tuesday. They set a “hold” rating on the stock.

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.