Riverview Bancorp (NASDAQ:RVSB) Announces Earnings Results

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) announced its quarterly earnings data on Tuesday. The savings and loans company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.02, Zacks reports. The business had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.40 million. Riverview Bancorp had a return on equity of 2.92% and a net margin of 1.13%.

Riverview Bancorp Stock Down 0.3 %

Shares of NASDAQ:RVSB traded down $0.02 during trading on Friday, hitting $6.38. 282,845 shares of the company were exchanged, compared to its average volume of 42,168. The firm's 50 day moving average price is $5.60 and its 200-day moving average price is $5.45. Riverview Bancorp has a 12-month low of $3.30 and a 12-month high of $6.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $133.83 million, a P/E ratio of 159.54 and a beta of 0.50.

Riverview Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, April 14th. This represents a $0.08 annualized dividend and a yield of 1.25%. Riverview Bancorp's dividend payout ratio is currently 34.78%.

Riverview Bancorp announced that its board has authorized a share repurchase program on Tuesday, April 29th that authorizes the company to buyback $2.00 million in outstanding shares. This buyback authorization authorizes the savings and loans company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Riverview Bancorp

In other Riverview Bancorp news, major shareholder Martin S. Friedman sold 50,500 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $5.49, for a total value of $277,245.00. Following the completion of the transaction, the insider now owns 186,348 shares in the company, valued at $1,023,050.52. This represents a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

RVSB has been the topic of a number of recent analyst reports. StockNews.com started coverage on shares of Riverview Bancorp in a research report on Friday, March 7th. They issued a "hold" rating on the stock. Raymond James reissued an "outperform" rating and issued a $7.00 target price (up previously from $6.25) on shares of Riverview Bancorp in a report on Friday.

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.