Riverview Bancorp Inc (RVSB) Stake Boosted by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its stake in Riverview Bancorp Inc (NASDAQ:RVSB) by 70.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,552 shares of the savings and loans company’s stock after buying an additional 16,718 shares during the period. Bank of New York Mellon Corp owned 0.18% of Riverview Bancorp worth $290,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Polaris Greystone Financial Group LLC acquired a new stake in Riverview Bancorp during the first quarter valued at $286,000. Acadian Asset Management LLC raised its position in shares of Riverview Bancorp by 44.5% in the first quarter. Acadian Asset Management LLC now owns 71,931 shares of the savings and loans company’s stock valued at $514,000 after buying an additional 22,138 shares in the last quarter. Thomson Horstmann & Bryant Inc. purchased a new position in shares of Riverview Bancorp during the first quarter valued at about $1,864,000. Beese Fulmer Investment Management Inc. purchased a new position in shares of Riverview Bancorp during the first quarter valued at about $255,000. Finally, Renaissance Technologies LLC raised its position in shares of Riverview Bancorp by 29.8% in the fourth quarter. Renaissance Technologies LLC now owns 96,300 shares of the savings and loans company’s stock valued at $674,000 after buying an additional 22,100 shares in the last quarter. Institutional investors and hedge funds own 55.59% of the company’s stock.
Riverview Bancorp Inc (RVSB) traded up 0.38% on Friday, reaching $7.85. The company had a trading volume of 89,465 shares. The company has a market capitalization of $176.66 million, a P/E ratio of 21.22 and a beta of 0.28. Riverview Bancorp Inc has a 52 week low of $4.91 and a 52 week high of $8.16. The stock’s 50-day moving average is $7.45 and its 200-day moving average is $7.27.
Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Tuesday, July 25th. The savings and loans company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $13.17 million during the quarter, compared to the consensus estimate of $13.20 million. Riverview Bancorp had a net margin of 17.19% and a return on equity of 7.51%. Equities research analysts forecast that Riverview Bancorp Inc will post $0.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, July 14th were paid a $0.0225 dividend. This is an increase from Riverview Bancorp’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, July 12th. This represents a $0.09 dividend on an annualized basis and a yield of 1.15%. Riverview Bancorp’s payout ratio is 24.32%.
Several research analysts have recently issued reports on RVSB shares. Zacks Investment Research lowered Riverview Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. ValuEngine raised Riverview Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
In related news, Director Ancora Advisors, Llc sold 900,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $6.50, for a total value of $5,850,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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