Riverview Bancorp Inc Declares Quarterly Dividend of $0.02 (NASDAQ:RVSB)

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) announced a quarterly dividend on Thursday, June 26th, Wall Street Journal reports. Investors of record on Thursday, July 10th will be given a dividend of 0.02 per share by the savings and loans company on Tuesday, July 22nd. This represents a $0.08 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, July 10th.

Riverview Bancorp has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Riverview Bancorp to earn $0.24 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 33.3%.

Riverview Bancorp Price Performance

Shares of Riverview Bancorp stock traded up $0.07 during mid-day trading on Thursday, reaching $5.75. 86,649 shares of the stock traded hands, compared to its average volume of 78,810. The business has a 50-day moving average of $5.77 and a 200 day moving average of $5.62. Riverview Bancorp has a fifty-two week low of $3.30 and a fifty-two week high of $6.59. The stock has a market capitalization of $120.53 million, a PE ratio of 24.98 and a beta of 0.45. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The savings and loans company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Riverview Bancorp had a return on equity of 3.09% and a net margin of 6.70%. The firm had revenue of $12.90 million during the quarter, compared to analysts' expectations of $12.40 million. On average, analysts predict that Riverview Bancorp will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RVSB shares. Raymond James Financial reissued an "outperform" rating and issued a $7.00 price target (up from $6.25) on shares of Riverview Bancorp in a research note on Friday, May 2nd. Wall Street Zen assumed coverage on shares of Riverview Bancorp in a report on Friday, March 7th. They issued a "hold" rating for the company.

Riverview Bancorp announced that its board has initiated a share buyback program on Tuesday, April 29th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the savings and loans company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Riverview Bancorp

A hedge fund recently raised its stake in Riverview Bancorp stock. Jane Street Group LLC grew its stake in Riverview Bancorp Inc (NASDAQ:RVSB - Free Report) by 204.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,318 shares of the savings and loans company's stock after acquiring an additional 31,085 shares during the quarter. Jane Street Group LLC owned about 0.22% of Riverview Bancorp worth $262,000 as of its most recent SEC filing. 69.60% of the stock is owned by hedge funds and other institutional investors.

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.