In a recent transaction on May 1, Robert Benke, the Executive Vice President and Chief Credit Officer (EVP/CCO) of Riverview Bancorp Inc (NASDAQ:RVSB), purchased shares of the company's stock. The transaction involved the acquisition of 5,000 shares at a price of $3.83 per share, amounting to a total investment of $19,150.
This purchase has increased Benke's direct holdings in Riverview Bancorp to 15,994 shares. Notably, this total includes an additional 8,994 shares owned through the Riverview 401(k) Plan, as clarified in the footnotes of the filing.
Riverview Bancorp Inc., headquartered in Vancouver, Washington, operates as a federally chartered savings institution. The company's stock transactions by its executives are closely watched by investors for insights into the confidence levels of management in the company's financial health and future prospects.
The acquisition of stock by an officer of the company is often seen as a positive signal to the market, demonstrating a commitment to the company's success by its own leadership. Benke's recent purchase reflects such a commitment, as he increases his stake in the company.
Investors and market watchers frequently monitor such transactions as they provide a glimpse into the actions of those who are in a position to have the most informed perspective on the company's operations and potential.
InvestingPro Insights
In light of the recent stock purchase by Riverview Bancorp's EVP/CCO, Robert Benke, current and potential investors might find the following InvestingPro Insights particularly useful for evaluating the company's stock performance and prospects.
InvestingPro data shows a market capitalization of $82.97 million for Riverview Bancorp, with a Price/Earnings (P/E) ratio of 22.22, which adjusts slightly to 21.84 when considering the last twelve months as of Q4 2024. Despite recent market volatility, an InvestingPro Tip highlights that Riverview Bancorp has raised its dividend for 9 consecutive years, which could be a sign of the company's commitment to returning value to shareholders. Additionally, the stock's Dividend Yield as of the latest data stands at a significant 6.38%, potentially appealing to income-focused investors.
Another InvestingPro Tip indicates that the stock is currently in oversold territory according to the Relative Strength Index (RSI), suggesting that the recent downward pressure on the stock price may have been overextended. This could be of interest to value investors looking for potential entry points. It's worth noting that Riverview Bancorp's stock has experienced a notable decline over various timeframes, including a 1-week total return of -15.51% and a 3-month total return of -27.99% as of the latest data.
For those interested in a deeper dive into Riverview Bancorp's financial health and stock performance, there are additional InvestingPro Tips available, which can be accessed through the company's dedicated page on InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover a total of 11 valuable tips that could inform your investment decisions.
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