In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Riverview Bancorp Inc (NASDAQ:RVSB) reported that Ancora Advisors, Llc. has picked up 923,945 of common stock as of 2017-05-24.
The acquisition brings the aggregate amount owned by Ancora Advisors, Llc. to a total of 923,945 representing less than 4.10% stake in the company.
For those not familiar with the company, Riverview Bancorp, Inc. (Riverview) is a savings and loan holding company of Riverview Community Bank (the Bank). The Company operates through two segments, which include banking operations performed by the Bank and trust and investment services performed by Riverview Asset Management Corp. (RAMCorp). The Company is engaged in the business of attracting deposits from the general public and using such funds in its primary market area to originate commercial business, commercial real estate, multi-family real estate, land, real estate construction, residential real estate and other consumer loans. Additionally, RAMCorp offers trust and investment services. Riverview Mortgage, a mortgage broker division of the Bank, originates mortgage loans for various mortgage companies in the Vancouver/Portland metropolitan areas, as well as for the Bank. The Bank’s Business and Professional Banking Division offers commercial and business banking services. It operates from over 20 branch offices.
A glance at Riverview Bancorp Inc (NASDAQ:RVSB)’s key stats reveals a current market capitalization of 155.54 Million based on 22.51 Million shares outstanding and a price at last close of $6.83 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-10, Wills picked up 2,000 at a purchase price of $5.41. This brings their total holding to 30,000 as of the date of the filing.
On the sell side, the most recent transaction saw Ancora unload 900,000 shares at a sale price of $6.50. This brings their total holding to 923,945.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Riverview Bancorp Inc (NASDAQ:RVSB) as things move forward to see if its progress aligns with these transactions.
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