Riverview Bancorp (NASDAQ:RVSB) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Riverview Bancorp (NASDAQ:RVSBGet Rating) in a report issued on Monday. The firm set a “buy” rating on the savings and loans company’s stock.

Riverview Bancorp Stock Up 1.2 %

NASDAQ:RVSB opened at $7.39 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.20. Riverview Bancorp has a twelve month low of $6.08 and a twelve month high of $8.09. The company’s 50 day moving average is $6.67 and its two-hundred day moving average is $6.76. The company has a market cap of $158.94 million, a PE ratio of 8.30 and a beta of 0.78.

Insider Buying and Selling at Riverview Bancorp

In other Riverview Bancorp news, Director Larry Hoff acquired 8,800 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was acquired at an average cost of $6.96 per share, for a total transaction of $61,248.00. Following the purchase, the director now owns 8,800 shares in the company, valued at approximately $61,248. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Riverview Bancorp

Several large investors have recently made changes to their positions in the company. Brandywine Global Investment Management LLC lifted its stake in shares of Riverview Bancorp by 8.2% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 382,932 shares of the savings and loans company’s stock valued at $2,432,000 after purchasing an additional 29,099 shares during the period. Tower Research Capital LLC TRC increased its holdings in Riverview Bancorp by 3,162.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,352 shares of the savings and loans company’s stock worth $72,000 after acquiring an additional 11,004 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Riverview Bancorp by 3.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 145,035 shares of the savings and loans company’s stock worth $920,000 after acquiring an additional 5,258 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Riverview Bancorp by 21.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 835,655 shares of the savings and loans company’s stock worth $5,306,000 after acquiring an additional 146,932 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in Riverview Bancorp in the 3rd quarter worth $1,325,000. 60.59% of the stock is currently owned by institutional investors and hedge funds.

About Riverview Bancorp

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Riverview Bancorp, Inc, a bank holding company for Riverview Community 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.

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