Northern Trust Corp boosted its stake in shares of Riverview Bancorp Inc (NASDAQ:RVSB) by 323.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,829 shares of the savings and loans company’s stock after purchasing an additional 164,823 shares during the quarter. Northern Trust Corp owned 0.96% of Riverview Bancorp worth $1,433,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers acquired a new position in shares of Riverview Bancorp in the 2nd quarter valued at $133,000. Goldman Sachs Group Inc. raised its stake in shares of Riverview Bancorp by 27.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 18,776 shares of the savings and loans company’s stock valued at $134,000 after buying an additional 4,038 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Riverview Bancorp by 278.8% in the 2nd quarter. Nationwide Fund Advisors now owns 22,013 shares of the savings and loans company’s stock valued at $146,000 after buying an additional 16,202 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of Riverview Bancorp in the 2nd quarter valued at $191,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Riverview Bancorp in the 2nd quarter valued at $216,000. Hedge funds and other institutional investors own 58.71% of the company’s stock.
Riverview Bancorp Inc (RVSB) opened at $9.45 on Tuesday. Riverview Bancorp Inc has a one year low of $6.23 and a one year high of $9.54. The stock has a market cap of $210.47, a price-to-earnings ratio of 21.23 and a beta of 0.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.25.
Riverview Bancorp (NASDAQ:RVSB) last announced its quarterly earnings data on Thursday, October 26th. The savings and loans company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Riverview Bancorp had a net margin of 18.90% and a return on equity of 8.63%. The company had revenue of $13.44 million during the quarter, compared to analysts’ expectations of $13.10 million. sell-side analysts forecast that Riverview Bancorp Inc will post 0.55 earnings per share for the current year.
In other news, EVP Richard S. Michalek sold 12,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $8.77, for a total value of $105,240.00. Following the sale, the executive vice president now owns 14,477 shares of the company’s stock, valued at approximately $126,963.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Lee Nies sold 30,778 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $8.58, for a total transaction of $264,075.24. The disclosure for this sale can be found here. Corporate insiders own 7.41% of the company’s stock.
A number of brokerages have recently issued reports on RVSB. Zacks Investment Research upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, November 2nd. ValuEngine upgraded shares of Riverview Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, October 27th.
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Riverview Bancorp 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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