Riverview Bancorp (NASDAQ:RVSB) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Q1 EPS missed estimates: Riverview reported $0.03 EPS versus a $0.05 consensus, a $0.02 shortfall, with a net margin of 6.41% and return on equity of 2.99%.
• The company is returning capital to shareholders, having authorized a $4.0 million share repurchase plan (about 3.8% of shares) and paying a $0.02 quarterly dividend (annualized $0.08, yield ~1.4%, payout ratio 34.78%).
• Shares traded at $5.57 midday with a market cap of $115.25 million, and analysts hold a consensus "Hold" rating with a $7.00 target price.

Riverview Bancorp (NASDAQ:RVSB - Get Free Report) announced its earnings results on Tuesday. The savings and loans company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02), Zacks reports. Riverview Bancorp had a net margin of 6.41% and a return on equity of 2.99%.

Riverview Bancorp Stock Performance

Shares of RVSB stock traded up $0.07 during mid-day trading on Tuesday, reaching $5.57. The stock had a trading volume of 4,449 shares, compared to its average volume of 46,145. The business's fifty day moving average is $5.41 and its 200-day moving average is $5.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.55. The firm has a market cap of $115.25 million, a price-to-earnings ratio of 24.19 and a beta of 0.54. Riverview Bancorp has a 1-year low of $4.74 and a 1-year high of $6.59.

Riverview Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Monday, April 13th were issued a $0.02 dividend. The ex-dividend date of this dividend was Monday, April 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.4%. Riverview Bancorp's dividend payout ratio is currently 34.78%.

Riverview Bancorp declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that permits the company to repurchase $4.00 million in outstanding shares. This repurchase authorization permits the savings and loans company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on RVSB. Wall Street Zen raised Riverview Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Riverview Bancorp in a report on Tuesday, April 21st. Finally, Zacks Research raised Riverview Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.00.

Institutional Trading of Riverview Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in Riverview Bancorp by 1.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 581,943 shares of the savings and loans company's stock worth $3,125,000 after acquiring an additional 7,220 shares during the period. Geode Capital Management LLC grew its holdings in Riverview Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 471,324 shares of the savings and loans company's stock worth $2,366,000 after acquiring an additional 5,793 shares during the period. Bridgeway Capital Management LLC grew its holdings in Riverview Bancorp by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 275,199 shares of the savings and loans company's stock worth $1,381,000 after acquiring an additional 7,575 shares during the period. Marshall Wace LLP acquired a new stake in Riverview Bancorp during the second quarter worth about $913,000. Finally, Empowered Funds LLC grew its holdings in Riverview Bancorp by 6.3% during the fourth quarter. Empowered Funds LLC now owns 128,293 shares of the savings and loans company's stock worth $644,000 after acquiring an additional 7,575 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

Riverview Bancorp Company Profile

Riverview Bancorp, Inc NASDAQ: RVSB is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company's deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.

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