Mackay Shields LLC Has $119,000 Stake in Riverview Bancorp, Inc. (NASDAQ:RVSB)

Mackay Shields LLC lifted its position in Riverview Bancorp, Inc. (NASDAQ:RVSB) by 38.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,094 shares of the savings and loans company’s stock after purchasing an additional 4,500 shares during the quarter. Mackay Shields LLC owned 0.07% of Riverview Bancorp worth $119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Riverview Bancorp by 67.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,375 shares of the savings and loans company’s stock valued at $148,000 after purchasing an additional 6,975 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Riverview Bancorp by 305.0% during the second quarter. Russell Investments Group Ltd. now owns 10,125 shares of the savings and loans company’s stock worth $87,000 after acquiring an additional 7,625 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Riverview Bancorp by 9.2% during the second quarter. Panagora Asset Management Inc. now owns 279,314 shares of the savings and loans company’s stock worth $2,385,000 after acquiring an additional 23,519 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Riverview Bancorp during the second quarter worth $160,000. Finally, LSV Asset Management raised its stake in Riverview Bancorp by 6.5% during the second quarter. LSV Asset Management now owns 62,500 shares of the savings and loans company’s stock worth $533,000 after acquiring an additional 3,821 shares in the last quarter. Institutional investors and hedge funds own 63.98% of the company’s stock.

In related news, Director David Nierenberg acquired 20,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $6.85 per share, for a total transaction of $137,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.20% of the company’s stock.

RVSB has been the subject of several recent analyst reports. Raymond James dropped their price objective on Riverview Bancorp from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Zacks Investment Research upgraded Riverview Bancorp from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Wednesday, November 6th. Finally, ValuEngine lowered Riverview Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Riverview Bancorp stock opened at $7.18 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a fifty day moving average price of $7.29 and a two-hundred day moving average price of $7.70. Riverview Bancorp, Inc. has a 52-week low of $5.46 and a 52-week high of $8.70. The firm has a market capitalization of $166.29 million, a P/E ratio of 9.45 and a beta of 0.64.

Riverview Bancorp (NASDAQ:RVSB) last released its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Riverview Bancorp had a return on equity of 12.76% and a net margin of 27.79%. The firm had revenue of $14.89 million during the quarter, compared to analyst estimates of $14.80 million. On average, equities research analysts predict that Riverview Bancorp, Inc. will post 0.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 14th were paid a dividend of $0.045 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.18 annualized dividend and a yield of 2.51%. Riverview Bancorp’s dividend payout ratio is currently 23.68%.

About Riverview Bancorp

Riverview Bancorp, Inc operates as the holding company for Riverview Community Bank that provides community banking services to small and medium size businesses, professionals, and 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.

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Institutional Ownership by Quarter for Riverview Bancorp (NASDAQ:RVSB)

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