Have Insiders Sold Riverview Bancorp Shares Recently?

We'd be surprised if Riverview Bancorp, Inc. (NASDAQ:RVSB) shareholders haven't noticed that the Independent Chairman of the Board & Lead Independent Director, Gerald Nies, recently sold US$265k worth of stock at US$6.14 per share. That sale was 23% of their holding, so it does make us raise an eyebrow.

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The Last 12 Months Of Insider Transactions At Riverview Bancorp

In fact, the recent sale by Gerald Nies was the biggest sale of Riverview Bancorp shares made by an insider individual in the last twelve months, according to our records. So what is clear is that an insider saw fit to sell at around the current price of US$6.12. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.

In the last twelve months insiders purchased 30.66k shares for US$166k. But they sold 43.17k shares for US$265k. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

View our latest analysis for Riverview Bancorp

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Does Riverview Bancorp Boast High Insider Ownership?

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data suggests Riverview Bancorp insiders own 4.0% of the company, worth about US$4.8m. We prefer to see high levels of insider ownership.

So What Do The Riverview Bancorp Insider Transactions Indicate?

The stark truth for Riverview Bancorp is that there has been more insider selling than insider buying in the last three months. Despite some insider buying, the longer term picture doesn't make us feel much more positive. Insiders own relatively few shares in the company, and when you consider the sales, we're not particularly excited about the stock. So we'd only buy after very careful consideration. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Every company has risks, and we've spotted 1 warning sign for Riverview Bancorp you should know about.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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