Martin S. Friedman Sells 50,500 Shares of Riverview Bancorp, Inc. (NASDAQ:RVSB) Stock

Riverview Bancorp, Inc. (NASDAQ:RVSB) major shareholder Martin S. Friedman sold 50,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total value of $277,245.00. Following the completion of the transaction, the insider now directly owns 186,348 shares in the company, valued at $1,023,050.52. This trade represents a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Riverview Bancorp Stock Performance

RVSB stock opened at $5.31 on Friday. The stock has a market capitalization of $111.88 million, a PE ratio of 132.78 and a beta of 0.77. Riverview Bancorp, Inc. has a 12-month low of $3.30 and a 12-month high of $5.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $5.64 and its 200 day simple moving average is $5.07.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings data 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 return on equity of 2.93% and a net margin of 1.13%. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.08 annualized dividend and a dividend yield of 1.51%. Riverview Bancorp’s payout ratio is 200.00%.

Hedge Funds Weigh In On Riverview Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Riverview Bancorp by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 948,801 shares of the savings and loans company’s stock valued at $5,446,000 after buying an additional 2,496 shares during the period. Empowered Funds LLC lifted its holdings in shares of Riverview Bancorp by 5.0% during 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 period. Geode Capital Management LLC lifted its holdings in shares of Riverview Bancorp by 2.7% during 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 during the period. Jane Street Group LLC bought a new position in Riverview Bancorp in the 4th quarter worth $87,000. Finally, Pacific Ridge Capital Partners LLC raised its holdings in 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 worth $3,739,000 after purchasing an additional 15,395 shares during the period. 69.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Riverview Bancorp Company Profile

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.