PL Capital Advisors LLC reduced its stake in shares of Riverview Bancorp Inc (NASDAQ:RVSB) by 26.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 528,576 shares of the savings and loans company’s stock after selling 185,954 shares during the period. Riverview Bancorp comprises approximately 0.9% of PL Capital Advisors LLC’s holdings, making the stock its 22nd largest position. PL Capital Advisors LLC owned 2.35% of Riverview Bancorp worth $3,510,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in RVSB. Goldman Sachs Group Inc. increased its position in Riverview Bancorp by 27.4% in the first quarter. Goldman Sachs Group Inc. now owns 18,776 shares of the savings and loans company’s stock valued at $134,000 after buying an additional 4,038 shares in the last quarter. ClariVest Asset Management LLC bought a new position in Riverview Bancorp during the first quarter valued at approximately $150,000. Segantii Capital Management Ltd increased its position in Riverview Bancorp by 566.1% in the first quarter. Segantii Capital Management Ltd now owns 25,978 shares of the savings and loans company’s stock valued at $186,000 after buying an additional 22,078 shares in the last quarter. Globeflex Capital L P increased its position in Riverview Bancorp by 15,004.8% in the first quarter. Globeflex Capital L P now owns 28,397 shares of the savings and loans company’s stock valued at $203,000 after buying an additional 28,209 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Riverview Bancorp by 65.0% in the first quarter. JPMorgan Chase & Co. now owns 33,417 shares of the savings and loans company’s stock valued at $239,000 after buying an additional 13,159 shares in the last quarter. Hedge funds and other institutional investors own 54.01% of the company’s stock.
Riverview Bancorp Inc (NASDAQ:RVSB) opened at 7.99 on Thursday. Riverview Bancorp Inc has a 12-month low of $4.80 and a 12-month high of $8.16. The firm has a 50 day moving average of $7.20 and a 200 day moving average of $7.26. The firm has a market capitalization of $179.81 million, a P/E ratio of 21.59 and a beta of 0.28.
Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Tuesday, July 25th. The savings and loans company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $13.17 million for the quarter, compared to analysts’ expectations of $13.20 million. Riverview Bancorp had a return on equity of 7.56% and a net margin of 17.19%. On average, analysts forecast that Riverview Bancorp Inc will post $0.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, July 14th were paid a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Riverview Bancorp’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, July 12th. Riverview Bancorp’s payout ratio is presently 24.32%.
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Several equities analysts have commented on RVSB shares. ValuEngine upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Thursday, August 3rd.
In other news, Director Ancora Advisors, Llc sold 900,000 shares of Riverview Bancorp stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $6.50, for a total transaction of $5,850,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.41% of the company’s stock.
About Riverview Bancorp
Riverview Bancorp, Inc (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Company operates through two segments, which include banking operations performed by the Bank and trust and investment services performed by Riverview Asset Management Corp. (RAMCorp).
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