The Manufacturers Life Insurance Company Purchases New Position in Riverview Bancorp Inc $RVSB

The Manufacturers Life Insurance Company purchased a new stake in Riverview Bancorp Inc (NASDAQ:RVSB) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,062,090 shares of the savings and loans company’s stock, valued at approximately $5,767,000. The Manufacturers Life Insurance Company owned about 0.05% of Riverview Bancorp at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Barclays PLC grew its stake in shares of Riverview Bancorp by 4.0% during the 4th quarter. Barclays PLC now owns 86,231 shares of the savings and loans company’s stock worth $433,000 after purchasing an additional 3,325 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Riverview Bancorp by 122.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,392 shares of the savings and loans company’s stock valued at $34,000 after purchasing an additional 3,524 shares during the period. American Century Companies Inc. boosted its holdings in Riverview Bancorp by 3.8% during the second quarter. American Century Companies Inc. now owns 115,638 shares of the savings and loans company’s stock worth $636,000 after buying an additional 4,206 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Riverview Bancorp by 4.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 122,631 shares of the savings and loans company’s stock worth $616,000 after buying an additional 5,359 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Riverview Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 471,324 shares of the savings and loans company’s stock valued at $2,366,000 after buying an additional 5,793 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Riverview Bancorp Trading Up 0.8%

Shares of Riverview Bancorp stock opened at $5.20 on Tuesday. The stock has a market cap of $103.74 million, a P/E ratio of -27.37 and a beta of 0.49. The stock’s 50 day simple moving average is $5.31 and its 200-day simple moving average is $5.42. Riverview Bancorp Inc has a 1-year low of $4.74 and a 1-year high of $6.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.93 and a quick ratio of 0.93.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings results on Wednesday, July 29th. The savings and loans company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Riverview Bancorp had a positive return on equity of 3.12% and a negative net margin of 5.87%.The firm had revenue of $15.01 million during the quarter, compared to analysts’ expectations of $14.80 million. Analysts predict that Riverview Bancorp Inc will post 0.28 EPS for the current fiscal year.

Riverview Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, July 9th. Riverview Bancorp’s dividend payout ratio is presently -42.11%.

Analyst Ratings Changes

A number of research analysts have weighed in on RVSB shares. Wall Street Zen raised shares of Riverview Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings raised shares of Riverview Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Insider Transactions at Riverview Bancorp

In other Riverview Bancorp news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $5.25, for a total value of $26,250.00. Following the completion of the sale, the insider directly owned 89,388 shares of the company’s stock, valued at $469,287. This trade represents a 5.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders acquired 4,250 shares of company stock valued at $22,288. 3.90% of the stock is owned by corporate insiders.

Riverview Bancorp Profile

Riverview Bancorp, Inc (NASDAQ: RVSB) is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company’s deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.