Alliancebernstein L.P. cut its position in Riverview Bancorp Inc (NASDAQ:RVSB) by 10.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 419,607 shares of the savings and loans company’s stock after selling 48,596 shares during the period. Alliancebernstein L.P. owned approximately 1.87% of Riverview Bancorp worth $3,000,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of RVSB. JPMorgan Chase & Co. raised its stake 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 during the last quarter. Beese Fulmer Investment Management Inc. purchased a new stake in Riverview Bancorp during the first quarter valued at approximately $255,000. Polaris Greystone Financial Group LLC purchased a new stake in Riverview Bancorp during the first quarter valued at approximately $286,000. Bank of New York Mellon Corp raised its stake in Riverview Bancorp by 70.1% in the first quarter. Bank of New York Mellon Corp now owns 40,552 shares of the savings and loans company’s stock valued at $290,000 after buying an additional 16,718 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in Riverview Bancorp during the first quarter valued at approximately $484,000. Hedge funds and other institutional investors own 53.88% of the company’s stock.
Shares of Riverview Bancorp Inc (NASDAQ:RVSB) traded up 1.07% during trading on Thursday, hitting $7.59. 160,799 shares of the company traded hands. The stock has a market capitalization of $170.67 million, a PE ratio of 23.07 and a beta of 0.27. Riverview Bancorp Inc has a 52-week low of $4.69 and a 52-week high of $8.16. The company has a 50-day moving average of $6.88 and a 200-day moving average of $7.24.
Riverview Bancorp (NASDAQ:RVSB) last issued its earnings results on Tuesday, July 25th. The savings and loans company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The business 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%. Equities analysts expect that Riverview Bancorp Inc will post $0.50 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, July 14th were issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.19%. 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 recently commented on RVSB shares. Zacks Investment Research lowered shares of Riverview Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. ValuEngine raised shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.41% of the company’s stock.
Riverview Bancorp Company Profile
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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