Riverview Bancorp, Inc. (NASDAQ:RVSB) to Issue Quarterly Dividend of $0.06

Riverview Bancorp, Inc. (NASDAQ:RVSB - Get Free Report) declared a quarterly dividend on Wednesday, March 27th, investing.com reports. Investors of record on Thursday, April 11th will be paid a dividend of 0.06 per share by the savings and loans company on Monday, April 22nd. This represents a $0.24 annualized dividend and a yield of 5.21%. The ex-dividend date is Wednesday, April 10th.

Riverview Bancorp has increased its dividend payment by an average of 6.3% annually over the last three years. Riverview Bancorp has a dividend payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Riverview Bancorp to earn $0.18 per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of 133.3%.

Riverview Bancorp Price Performance

Shares of NASDAQ RVSB traded down $0.08 during trading on Tuesday, reaching $4.61. The company had a trading volume of 25,390 shares, compared to its average volume of 24,346. Riverview Bancorp has a 52 week low of $4.17 and a 52 week high of $6.57. The stock has a market cap of $97.32 million, a PE ratio of 10.20 and a beta of 0.70. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.84 and a current ratio of 0.84. The business's 50 day moving average price is $4.94 and its 200-day moving average price is $5.55.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last announced its earnings results on Thursday, January 25th. The savings and loans company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03). Riverview Bancorp had a return on equity of 6.29% and a net margin of 14.15%. The company had revenue of $12.38 million during the quarter, compared to the consensus estimate of $13.10 million. Analysts expect that Riverview Bancorp will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of Riverview Bancorp by 158.9% in the first quarter. The Manufacturers Life Insurance Company now owns 669,877 shares of the savings and loans company's stock valued at $5,058,000 after purchasing an additional 411,131 shares during the period. BlackRock Inc. boosted its position in Riverview Bancorp by 3.6% during the 2nd quarter. BlackRock Inc. now owns 1,724,647 shares of the savings and loans company's stock worth $8,692,000 after buying an additional 59,609 shares during the period. Renaissance Technologies LLC lifted its position in shares of Riverview Bancorp by 16.9% in the 1st quarter. Renaissance Technologies LLC now owns 247,407 shares of the savings and loans company's stock worth $1,321,000 after purchasing an additional 35,800 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Riverview Bancorp in the 4th quarter worth approximately $168,000. Finally, rhino investment partners Inc lifted its position in shares of Riverview Bancorp by 6.6% in the 4th quarter. rhino investment partners Inc now owns 419,931 shares of the savings and loans company's stock worth $3,225,000 after purchasing an additional 26,006 shares during the period. Institutional investors and hedge funds own 69.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded shares of Riverview Bancorp from a "b-" rating to a "c+" rating in a research note on Friday, February 23rd.

About Riverview Bancorp

Riverview Bancorp, Inc operates as a bank holding company for Riverview Bank that provides commercial banking services to small and medium size businesses, professionals, and wealth building individuals. It offers a range of deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, savings accounts, certificates of deposit, and retirement savings plans.