Richard S. Michalek Sells 12,000 Shares of Riverview Bancorp Inc (RVSB) Stock

Riverview Bancorp Inc (NASDAQ:RVSB) EVP Richard S. Michalek sold 12,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $8.77, for a total transaction of $105,240.00. Following the completion of the sale, the executive vice president now owns 14,477 shares in the company, valued at $126,963.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Thursday, October 26th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Riverview Bancorp had a net margin of 18.90% and a return on equity of 8.73%. The company had revenue of $13.44 million for the quarter, compared to the consensus estimate of $13.10 million.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Friday, October 13th were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.02%. Riverview Bancorp’s payout ratio is presently 20.46%.

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Several institutional investors have recently added to or reduced their stakes in RVSB. Context BH Capital Management LP raised its holdings in Riverview Bancorp by 116.9% during the second quarter. Context BH Capital Management LP now owns 57,739 shares of the savings and loans company’s stock worth $383,000 after buying an additional 31,122 shares during the last quarter. Geode Capital Management LLC raised its holdings in Riverview Bancorp by 222.2% during the first quarter. Geode Capital Management LLC now owns 169,305 shares of the savings and loans company’s stock worth $1,210,000 after buying an additional 116,756 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Riverview Bancorp by 11.0% during the first quarter. Renaissance Technologies LLC now owns 106,900 shares of the savings and loans company’s stock worth $764,000 after buying an additional 10,600 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Riverview Bancorp by 70.1% during the first quarter. Bank of New York Mellon Corp now owns 40,552 shares of the savings and loans company’s stock worth $290,000 after buying an additional 16,718 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Riverview Bancorp by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,212,884 shares of the savings and loans company’s stock worth $8,672,000 after buying an additional 36,196 shares during the last quarter. Institutional investors own 55.94% of the company’s stock.

Several equities research analysts have recently issued reports on RVSB shares. Zacks Investment Research raised shares of Riverview Bancorp from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Wednesday, August 16th. ValuEngine raised shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, October 27th.

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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