Riverview Bancorp (NASDAQ:RVSB) Posts Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Riverview Bancorp reported earnings of $0.06 per share for the quarter, surpassing the consensus estimate of $0.05.
• The company declared a quarterly dividend of $0.02 per share, resulting in an annualized yield of 1.54%.
• Analyst Raymond James upgraded the stock's price target to $7.00, reflecting increased confidence in Riverview Bancorp's performance.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) released its earnings results on Tuesday. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.01, Zacks reports. The company had revenue of $13.27 million during the quarter, compared to analyst estimates of $13.30 million. Riverview Bancorp had a return on equity of 3.23% and a net margin of 6.95%.

Riverview Bancorp Stock Down 2.2%

Shares of Riverview Bancorp stock traded down $0.11 on Friday, hitting $4.82. 63,856 shares of the company traded hands, compared to its average volume of 124,179. The company has a 50-day moving average price of $5.51 and a 200 day moving average price of $5.60. 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 has a 12-month low of $4.31 and a 12-month high of $6.59. The company has a market cap of $101.12 million, a PE ratio of 20.08 and a beta of 0.45.

Riverview Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Thursday, July 10th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, July 10th. Riverview Bancorp's payout ratio is currently 33.33%.

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

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reaffirmed an "outperform" rating and issued a $7.00 target price (up previously from $6.25) on shares of Riverview Bancorp in a research report on Friday, May 2nd.

Institutional Investors Weigh In On Riverview Bancorp

An institutional investor recently raised its position in Riverview Bancorp stock. Empowered Funds LLC increased its holdings in Riverview Bancorp Inc (NASDAQ:RVSB - Free Report) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,394 shares of the savings and loans company's stock after purchasing an additional 6,988 shares during the period. Empowered Funds LLC owned approximately 0.48% of Riverview Bancorp worth $573,000 at the end of the most recent reporting period. 69.60% of the stock is owned by institutional investors and hedge funds.

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.