In a recent transaction, Daniel D. Cox, the Acting President, CEO, and COO of Riverview Bancorp Inc. (NASDAQ:RVSB), purchased 1,300 shares of the company's common stock. The transaction, dated April 30, 2024, was executed at a price of $3.90 per share, amounting to a total investment of $5,070.
This acquisition adds to Cox's existing holdings in the company, reflecting a vote of confidence in Riverview Bancorp's future prospects. Following the transaction, the executive's total direct ownership of common stock has increased to 56,195.383 shares. Additionally, the filing notes that Cox's indirect holdings include 6,642.4775 shares held by the Employee Stock Ownership Plan (ESOP), and his overall stake is further augmented by shares acquired under a dividend reinvestment plan and shares owned in the Riverview 401(k) Plan.
Investors often monitor insider transactions such as these for insights into executive sentiment regarding the company's performance and outlook. Cox's role as a key officer of the company suggests that his market activities are closely aligned with Riverview Bancorp's strategic direction and financial health.
Riverview Bancorp, headquartered in Vancouver, Washington, operates as a federally chartered savings institution and has been serving its community with a range of banking products and services.
InvestingPro Insights
Following the insider purchase by Daniel D. Cox, Riverview Bancorp Inc. (NASDAQ:RVSB) presents a mixed picture according to the latest data and analysis from InvestingPro. Despite recent challenges, there are signs that the company is maintaining a commitment to its shareholders. An InvestingPro Tip highlights that Riverview Bancorp has raised its dividend for 9 consecutive years and pays a significant dividend to shareholders, with a current yield standing at a robust 6.38%. This could signal a strong focus on returning value to investors, especially in the current economic climate.
The company's market capitalization currently stands at $82.97 million, with a price-to-earnings (P/E) ratio of 22.22. This valuation comes as the company has experienced a price total return of -39.91% year-to-date, indicating that the stock has taken a significant hit in the market. Nonetheless, the recent insider buying may suggest a belief in the company's resilience or undervaluation. Additionally, an InvestingPro Tip notes that the stock's Relative Strength Index (RSI) suggests it is in oversold territory, potentially pointing to a buying opportunity for investors.
For those looking for a deeper dive into Riverview Bancorp's financials and strategic outlook, InvestingPro offers a range of additional tips. Specifically, there are 11 more InvestingPro Tips available that can provide further insights into the company's performance and potential investment opportunities. Interested investors can access these tips by visiting: https://www.investing.com/pro/RVSB. Moreover, investors can take advantage of an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching their investment strategy with valuable information and analysis.
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