The Manufacturers Life Insurance Company Sells 17,195 Shares of Riverview Bancorp, Inc. (NASDAQ:RVSB)

The Manufacturers Life Insurance Company trimmed its stake in Riverview Bancorp, Inc. (NASDAQ:RVSB) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,042,865 shares of the savings and loans company’s stock after selling 17,195 shares during the period. The Manufacturers Life Insurance Company owned 4.94% of Riverview Bancorp worth $4,161,000 at the end of the most recent quarter.

Separately, Vanguard Group Inc. raised its holdings in Riverview Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 902,739 shares of the savings and loans company’s stock worth $4,261,000 after purchasing an additional 6,615 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Riverview Bancorp in a report on Wednesday, October 2nd. They issued a “hold” rating on the stock.

Riverview Bancorp Stock Performance

Shares of RVSB stock opened at $4.62 on Tuesday. Riverview Bancorp, Inc. has a 12-month low of $3.30 and a 12-month high of $6.57. The business’s fifty day simple moving average is $4.59 and its 200-day simple moving average is $4.30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.92. The company has a market cap of $97.48 million, a PE ratio of 25.67 and a beta of 0.77.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings results on Thursday, July 25th. The savings and loans company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Riverview Bancorp had a net margin of 2.86% and a return on equity of 3.69%. The business had revenue of $17.77 million during the quarter, compared to analysts’ expectations of $12.20 million. Analysts expect that Riverview Bancorp, Inc. will post 0.16 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, October 7th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, October 7th. Riverview Bancorp’s dividend payout ratio is presently 44.45%.

About Riverview Bancorp

Riverview Bancorp, Inc operates as a bank holding company for Riverview Bank that provides commercial banking services to small and medium size businesses, professionals, and wealth building individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans.