Riverview Bancorp announces a $2 million stock repurchase program to enhance shareholder value, effective for 12 months.
Quiver AI Summary
Riverview Bancorp, Inc., based in Vancouver, Washington, announced on April 24, 2025, that its Board of Directors has approved a stock repurchase program allowing for the buyback of up to $2 million of the company's common stock. The repurchases may occur in the open market or through private transactions, lasting until either the buyback is completed or 12 months have passed, depending on market conditions. CEO Nicole Sherman emphasized that this move is a strategic use of excess capital aimed at enhancing shareholder value. Riverview Bancorp, the parent of Riverview Bank and Riverview Trust Company, manages $1.51 billion in assets and operates 17 branches, primarily in the Portland-Vancouver area.
Potential Positives
- Riverview Bancorp has initiated a stock repurchase program of up to $2.0 million, indicating a commitment to enhancing shareholder value.
- The adoption of the repurchase program reflects the Company's confidence in its financial position and ability to deploy excess capital effectively.
- This program allows the Company to potentially buy back shares at prevailing market prices, which could positively impact earnings per share in the future.
- Riverview Bancorp has a strong community presence with 17 branches, suggesting a solid customer base that supports continued growth and stability.
Potential Negatives
- The stock repurchase program may indicate that the company lacks better investment opportunities, which could be perceived as a lack of growth prospects.
- The reliance on stock buybacks to enhance shareholder value could be viewed negatively if it detracts from other areas such as research, development, or improving services.
- The press release includes a cautionary note about forward-looking statements, which may imply underlying uncertainty in the company's future performance.
FAQ
What is the new stock repurchase program by Riverview Bancorp?
Riverview Bancorp's stock repurchase program allows the company to buy back up to $2.0 million of its common stock over 12 months.
When was the stock repurchase program adopted?
The stock repurchase program was adopted by Riverview Bancorp's Board of Directors on April 24, 2025.
How does Riverview Bancorp plan to enhance shareholder value?
The company aims to enhance shareholder value by repurchasing common stock as a way to deploy excess capital.
Where is Riverview Bancorp located?
Riverview Bancorp is headquartered in Vancouver, Washington, near Portland, Oregon, along the I-5 corridor.
How many branches does Riverview Bank operate?
Riverview Bank operates 17 branches, with 13 located in the Portland-Vancouver area and 3 lending centers.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RVSB Insider Trading Activity
$RVSB insiders have traded $RVSB stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $RVSB stock by insiders over the last 6 months:
- MARTIN S. FRIEDMAN has made 0 purchases and 2 sales selling 236,848 shares for an estimated $1,241,689.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RVSB Hedge Fund Activity
We have seen 19 institutional investors add shares of $RVSB stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NIERENBERG INVESTMENT MANAGEMENT COMPANY, INC. added 225,822 shares (+21.3%) to their portfolio in Q4 2024, for an estimated $1,296,218
- ROYCE & ASSOCIATES LP removed 162,650 shares (-63.8%) from their portfolio in Q4 2024, for an estimated $933,611
- AMERIPRISE FINANCIAL INC added 141,400 shares (+17.6%) to their portfolio in Q4 2024, for an estimated $811,636
- FOURTHSTONE LLC removed 132,310 shares (-7.4%) from their portfolio in Q4 2024, for an estimated $759,459
- LSV ASSET MANAGEMENT removed 91,184 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $523,396
- ALLIANCEBERNSTEIN L.P. removed 83,353 shares (-28.1%) from their portfolio in Q4 2024, for an estimated $478,446
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 39,027 shares (+inf%) to their portfolio in Q4 2024, for an estimated $224,014
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
VANCOUVER, Wash., April 29, 2025 (GLOBE NEWSWIRE) -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) headquartered in Vancouver, WA, the holding company parent of Riverview Bank, announced that on April 24, 2025, its Board of Directors adopted a stock repurchase program.
Under this repurchase program, the Company may repurchase up to $2.0 million of the Company’s outstanding shares of common stock, in the open market, based on prevailing market prices, or in privately negotiated transactions. Once the repurchase program is effective, the repurchase program will continue until the earlier of the completion of the repurchase or 12 months after the effective date, depending upon market conditions.
“We continue to explore opportunities to enhance shareholder value and we believe capitalizing on this opportunity to repurchase common stock is a prudent way of deploying excess capital,” said Nicole Sherman, President and Chief Executive Officer.
About Riverview
Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon, on the I-5 corridor. With assets of $1.51 billion at March 31, 2025, it is the parent company of Riverview Bank, as well as Riverview Trust Company. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial, business and retail clients through 17 branches, including 13 in the Portland-Vancouver area, and 3 lending centers. For the past 11 years, Riverview has been named Best Bank by the readers of The Vancouver Business Journal and The Columbian
.
This press release contains statements that the Company believes are “forward-looking statements.” These statements relate to the Company’s financial condition, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make including those described in Item 1A (Risk Factors) of the Company’s Form 10-K for the fiscal year ended March 31, 2024. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known by the Company.
Transmitted on Globe Newswire on April 29, 2025 at 6:00AM PDT.
| Contacts: |
Nicole Sherman
David Lam Riverview Bancorp, Inc. 360-693-6650 |
