Riverview Bancorp Inc. was added to a new stock index this week, the Russell 2000, a move the Vancouver-based bank expects to raise its profile.
“We are pleased to be added to the Russell 2000, which reflects our continued positive momentum and efforts to increase shareholder value,” Pat Sheaffer, chairman and CEO of the company, said in a statement. “We expect our inclusion will raise our profile and generate greater interest in our stock among institutional investors.”
According to the announcement, the Russell 2000 and the Russell 3000 are used by investors as benchmarks of investment strategies.
Every May, the Russell 3000 ranks the top 3,0000 largest U.S. stocks by total market capitalization. The largest 1,000 companies are placed in the Russell 1000 index, and the next 2,000 companies fall into the Russell 2000.
