Riverview Bancorp, Inc. (NASDAQ:RVSB) Announces Quarterly Dividend of $0.06

by · The Cerbat Gem

Riverview Bancorp, Inc. (NASDAQ:RVSB – Get Free Report) declared a quarterly dividend on Tuesday, December 26th, Zacks reports. Investors of record on Friday, January 5th will be given a dividend of 0.06 per share by the savings and loans company on Tuesday, January 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, January 4th.

Riverview Bancorp has increased its dividend by an average of 10.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Riverview Bancorp has a payout ratio of 68.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Riverview Bancorp to earn $0.35 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 68.6%.

Riverview Bancorp Stock Performance

Shares of NASDAQ RVSB opened at $6.34 on Thursday. Riverview Bancorp has a 1 year low of $4.17 and a 1 year high of $7.95. The firm has a market cap of $133.84 million, a P/E ratio of 10.06 and a beta of 0.75. The stock has a fifty day moving average price of $5.94 and a two-hundred day moving average price of $5.68. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.82 and a current ratio of 0.82.

Riverview Bancorp (NASDAQ:RVSB – Get Free Report) last announced its earnings results on Tuesday, October 31st. The savings and loans company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $17.44 million during the quarter, compared to analysts’ expectations of $13.50 million. Riverview Bancorp had a return on equity of 8.83% and a net margin of 19.62%. Research analysts forecast that Riverview Bancorp will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Riverview Bancorp in a report on Thursday, October 5th. They issued a “hold” rating on the stock.

View Our Latest Analysis on RVSB

Hedge Funds Weigh In On Riverview Bancorp

A number of hedge funds have recently modified their holdings of RVSB. Tower Research Capital LLC TRC boosted its position in shares of Riverview Bancorp by 4,782.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,029 shares of the savings and loans company’s stock valued at $28,000 after purchasing an additional 4,926 shares during the period. Advisor Group Holdings Inc. lifted its stake in Riverview Bancorp by 33.5% during the first quarter. Advisor Group Holdings Inc. now owns 8,029 shares of the savings and loans company’s stock valued at $60,000 after buying an additional 2,014 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Riverview Bancorp in the first quarter worth about $80,000. Envestnet Asset Management Inc. acquired a new stake in shares of Riverview Bancorp during the second quarter valued at approximately $94,000. Finally, Millennium Management LLC lifted its position in shares of Riverview Bancorp by 53.0% in the 2nd quarter. Millennium Management LLC now owns 21,425 shares of the savings and loans company’s stock valued at $141,000 after acquiring an additional 7,420 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Riverview Bancorp Company Profile

(Get Free Report)

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.

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