Riverview Bancorp Inc (NASDAQ:RVSB) has reported a notable transaction by one of its executives, Bessie Ross, who serves on the company's board of directors. According to a recent filing, Ross has invested in the institution she helps oversee by purchasing shares valued at a total of $15,760.
The transaction, which took place on May 2, 2024, involved Ross acquiring 4,000 shares of Riverview Bancorp's common stock at a price of $3.94 each. This purchase increases Ross's direct ownership in the company to a total of 45,000 shares, a detail accompanied by a footnote indicating that these shares are beneficially owned jointly with her spouse.
Investors often monitor insider transactions like these as they can provide insights into the confidence that company executives and directors have in the firm's prospects. With Riverview Bancorp's leadership making tangible commitments to the company's success by investing their own money, shareholders may find reassurance in such actions.
Riverview Bancorp, headquartered in Vancouver, Washington, operates as a federally chartered savings institution and has a fiscal year-end on March 31. The company has not released any additional comments regarding the transaction at this time.
InvestingPro Insights
Amidst the news of insider transactions at Riverview Bancorp Inc (NASDAQ:RVSB), investors are closely watching the company's performance indicators. According to real-time data from InvestingPro, Riverview Bancorp has a Market Cap of $82.97 million USD. Despite recent market challenges, the company's Dividend Yield stands at a significant 6.09%, as of the last dividend ex-date on April 10, 2024. This aligns with an InvestingPro Tip highlighting that Riverview Bancorp has maintained dividend payments for 10 consecutive years, showcasing a commitment to returning value to shareholders.
The company's stock price has experienced a decrease, with a 1 Month Price Total Return of -13.41% and a 3 Month Price Total Return of -24.54%. This recent performance is underscored by an InvestingPro Tip indicating that the stock has taken a substantial hit over the last month. Nevertheless, Riverview Bancorp's long-term commitment to dividends may suggest a different narrative for value-oriented investors, particularly those seeking income-generating stocks.
For those interested in a deeper analysis, there are over 10 additional InvestingPro Tips available, which can provide further insights into Riverview Bancorp's financial health and stock performance. To explore these tips and gain a more comprehensive understanding of the company's prospects, investors can visit https://www.investing.com/pro/RVSB. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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