Riverview Bancorp (NASDAQ:RVSB) Issues Earnings Results

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

Riverview Bancorp Trading Down 0.3 %

Shares of Riverview Bancorp stock traded down $0.02 during trading on Friday, reaching $6.38. 282,845 shares of the company were exchanged, compared to its average volume of 42,196. The business has a 50-day moving average price of $5.60 and a 200-day moving average price of $5.45. The firm has a market capitalization of $133.83 million, a price-to-earnings ratio of 159.54 and a beta of 0.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.72. Riverview Bancorp has a twelve month low of $3.30 and a twelve month high of $6.59.

Riverview Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 14th were issued a $0.02 dividend. The ex-dividend date 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 200.00%.

Insider Buying and Selling at Riverview Bancorp

In related news, major shareholder Martin S. Friedman sold 50,500 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 186,348 shares in the company, valued at $1,023,050.52. This trade represents a 21.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.90% of the company's stock.

Riverview Bancorp declared that its board has initiated a stock buyback program on Tuesday, April 29th that authorizes the company to repurchase $2.00 million in outstanding shares. This repurchase authorization authorizes the savings and loans company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RVSB. Raymond James reaffirmed an "outperform" rating and issued a $7.00 target price (up from $6.25) on shares of Riverview Bancorp in a research note on Friday. StockNews.com started coverage on Riverview Bancorp in a report on Friday, March 7th. They set a "hold" rating on the stock.

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.