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In a recent transaction, Courtney Evan Sowers, President and CEO of Riverview Bancorp Inc.’s (NASDAQ:RVSB) trust company, acquired 196 shares of the company’s common stock. The $113 million market cap company has shown strong performance with a 50% return over the past year. The shares were purchased at a price of $5.44 each, amounting to a total investment of $1,066. Following this acquisition, Sowers now holds 19,666 shares directly. Additionally, the CEO has indirect ownership of 77 shares held by the company’s Employee Stock Ownership Plan (ESOP). This transaction reflects Sowers’ continued investment in Riverview Bancorp, further aligning his interests with those of the company’s shareholders. The company maintains a 1.5% dividend yield and has consistently paid dividends for 11 consecutive years. According to InvestingPro analysis, the stock currently appears undervalued, with 6 additional exclusive insights available to subscribers.
In other recent news, Riverview Bancorp has announced a new stock repurchase program, allowing the company to buy back up to $2 million of its outstanding common stock over the next year. This initiative, effective from April 24, 2025, aims to utilize excess capital to enhance shareholder value. Riverview Bancorp, which manages $1.51 billion in assets, has been recognized for its commitment to quality service, being named Best Bank for 11 consecutive years by local publications. Meanwhile, Raymond (NSE:RYMD) James has maintained its Outperform rating on Riverview Bancorp, setting a price target of $6.25. The firm’s confidence stems from recent investor meetings that highlighted the bank’s growth strategies and strategic capital deployment options. Riverview Bancorp’s initiatives, including hiring key personnel and enhancing systems, are expected to support growth in low-cost core deposits and client acquisition. Additionally, the bank is exploring mergers and acquisitions as part of its strategy, despite the challenges of current valuations. Raymond James believes that Riverview’s strong asset quality and potential for capital deployment contribute to its franchise value, suggesting that the current valuation does not fully reflect the bank’s potential.
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