Riverview Bancorp Inc (NASDAQ:RVSB) Stock to Pay Quarterly Dividend of $0.02

Key Points

• Riverview Bancorp declared a quarterly dividend of $0.02 per share, payable October 20 to shareholders of record October 9. The dividend equals $0.08 annually and yields approximately 1.4%.
• The dividend appears financially supported, with a 19.0% payout ratio and analysts expecting a 21.6% future payout ratio based on projected earnings.
• Riverview Bancorp reported quarterly EPS of $0.08, topping the $0.07 consensus estimate, while institutional investors own approximately 69.6% of the company’s stock.

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) declared a quarterly dividend on Friday, September 25th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.02 per share by the savings and loans company on Tuesday, October 20th. This represents a $0.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, October 9th.

Riverview Bancorp has decreased its dividend payment by an average of 0.2%annually over the last three years. Riverview Bancorp has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Riverview Bancorp to earn $0.37 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 21.6%.

Riverview Bancorp Stock Down 2.2%

NASDAQ:RVSB opened at $5.86 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 0.93. Riverview Bancorp has a 52-week low of $4.88 and a 52-week high of $6.22. The company has a market cap of $116.91 million, a PE ratio of -30.84 and a beta of 0.47. The stock has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $5.48.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The savings and loans company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Riverview Bancorp had a positive return on equity of 3.12% and a negative net margin of 5.87%.The company had revenue of $15.01 million during the quarter, compared to the consensus estimate of $14.80 million. On average, sell-side analysts expect that Riverview Bancorp will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Riverview Bancorp

In related news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the business's stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $5.25, for a total transaction of $26,250.00. Following the sale, the insider directly owned 89,388 shares in the company, valued at approximately $469,287. The trade was a 5.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 13,465 shares of company stock valued at $73,401 in the last three months. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Riverview Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in shares of Riverview Bancorp during the second quarter valued at approximately $61,000. Squarepoint Ops LLC bought a new position in shares of Riverview Bancorp during the second quarter valued at $195,000. Ancora Advisors LLC increased its position in Riverview Bancorp by 371.9% during the second quarter. Ancora Advisors LLC now owns 97,424 shares of the savings and loans company's stock valued at $529,000 after acquiring an additional 76,777 shares during the last quarter. Susquehanna International Group LLP bought a new position in Riverview Bancorp in the 2nd quarter worth $661,000. Finally, Empowered Funds LLC purchased a new stake in Riverview Bancorp in the 2nd quarter worth $697,000. Institutional investors own 69.60% of the company's stock.

About Riverview Bancorp

Riverview Bancorp, Inc is a bank holding company headquartered in Vancouver, Washington. Its principal subsidiary, Riverview Community Bank, provides banking services to individuals, families, businesses and nonprofit organizations.

Riverview Community Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include commercial and industrial loans, commercial real estate financing, construction loans, residential mortgage loans, home equity products and consumer loans.

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