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

Riverview Bancorp Inc (NASDAQ:RVSB - Get Free Report) declared a quarterly dividend on Thursday, June 26th, Wall Street Journal reports. Shareholders of record on Thursday, July 10th will be paid a dividend of 0.02 per share by the savings and loans company on Tuesday, July 22nd. This represents a $0.08 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, July 10th.

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 $0.24 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 remained flat at $5.68 during trading hours on Wednesday. The stock had a trading volume of 201,117 shares, compared to its average volume of 78,779. Riverview Bancorp has a 12 month low of $3.30 and a 12 month high of $6.59. The stock has a market cap of $119.17 million, a P/E ratio of 24.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average of $5.77 and a 200 day moving average of $5.62.

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, beating analysts' consensus estimates 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 the consensus estimate of $12.40 million. As a group, equities research analysts predict that Riverview Bancorp will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

RVSB has been the subject of a number of research analyst reports. Raymond James Financial restated an "outperform" rating and issued a $7.00 price target (up previously 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 set a "hold" rating for the company.

Institutional Trading of Riverview Bancorp

An institutional investor recently raised its position in Riverview Bancorp stock. Jane Street Group LLC lifted its position in Riverview Bancorp Inc (NASDAQ:RVSB - Free Report) by 204.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 0.22% of Riverview Bancorp worth $262,000 as of its most recent SEC filing. Institutional investors own 69.60% of the company's stock.

Riverview Bancorp declared that its board has approved a stock buyback plan 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Riverview Bancorp Company Profile

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.