Riverview Bancorp (NASDAQ:RVSB) Releases Earnings Results, Beats Estimates By $0.03 EPS

Riverview Bancorp (NASDAQ:RVSB) issued its quarterly earnings data on Tuesday. The savings and loans company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03, Zacks reports. The company had revenue of $14.05 million during the quarter, compared to analysts’ expectations of $13.70 million. Riverview Bancorp had a net margin of 6.41% and a return on equity of 3.00%.

Riverview Bancorp Price Performance

Shares of Riverview Bancorp stock opened at $5.19 on Thursday. The firm has a market capitalization of $107.69 million, a PE ratio of 23.59 and a beta of 0.62. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. Riverview Bancorp has a 12 month low of $4.74 and a 12 month high of $6.59. The business’s 50-day moving average price is $5.18 and its 200-day moving average price is $5.18.

Riverview Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 5th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.08 annualized dividend and a yield of 1.5%. Riverview Bancorp’s payout ratio is 36.36%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RVSB. Empowered Funds LLC boosted its stake in shares of Riverview Bancorp by 7.4% in the 1st quarter. Empowered Funds LLC now owns 101,394 shares of the savings and loans company’s stock valued at $573,000 after purchasing an additional 6,988 shares in the last quarter. Jane Street Group LLC boosted its position in Riverview Bancorp by 204.1% during the first quarter. Jane Street Group LLC now owns 46,318 shares of the savings and loans company’s stock valued at $262,000 after buying an additional 31,085 shares during the period. Geode Capital Management LLC grew its stake in shares of Riverview Bancorp by 110.2% during the second quarter. Geode Capital Management LLC now owns 460,461 shares of the savings and loans company’s stock valued at $2,533,000 after buying an additional 241,368 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Riverview Bancorp in the second quarter worth about $53,000. Finally, American Century Companies Inc. boosted its holdings in Riverview Bancorp by 3.8% during the 2nd quarter. American Century Companies Inc. now owns 115,638 shares of the savings and loans company’s stock valued at $636,000 after acquiring an additional 4,206 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

Riverview Bancorp declared that its board has initiated a share repurchase program on Wednesday, January 28th that permits the company to repurchase $4.00 million in shares. This repurchase authorization permits the savings and loans company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RVSB shares. Wall Street Zen lowered shares of Riverview Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Riverview Bancorp in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

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.