Riverview Bancorp, Inc. to Issue Quarterly Dividend of $ 0.06 (NASDAQ: RVSB)
Riverview Bancorp, Inc. (NASDAQ: RVSB) declared a quarterly dividend on Thursday, December 23, reports the Wall Street Journal. Investors registered on Wednesday January 5 will receive a dividend of 0.055 per share from the savings and loan company on Monday January 17. This represents an annualized dividend of $ 0.22 and a dividend yield of 2.87%. The ex-dividend date for this dividend is Tuesday January 4.
Riverview Bancorp has increased its dividend by 135.3% over the past three years and has increased its dividend each year for the past 6 years. Riverview Bancorp has a payout ratio of 27.5%, which indicates that its dividend is sufficiently covered by earnings. Equity research analysts expect Riverview Bancorp to earn $ 0.80 per share next year, which means the company should continue to be able to cover its annual dividend of $ 0.22. with an expected future payout rate of 27.5%.
Riverview Bancorp shares traded up $ 0.07 in Thursday’s session, reaching $ 7.66. The company’s shares had a trade volume of 10,169 shares, compared to an average volume of 62,627. The company has a market cap of $ 169.78 million, a P / E ratio of 8.63 and a beta of 0.82. The company has a debt to equity ratio of 0.18, a current ratio of 0.83, and a rapid ratio of 0.83. Riverview Bancorp has a 52 week low of $ 5.03 and a 52 week high of $ 8.22. The company’s fifty-day moving average price is $ 7.62.
Riverview Bancorp (NASDAQ: RVSB) last reported its quarterly results on Wednesday, October 27. The savings and loan company reported earnings per share (EPS) of $ 0.29 for the quarter, beating consensus analysts’ estimates of $ 0.20 per $ 0.09. The company posted revenue of $ 15.45 million for the quarter, compared to a consensus estimate of $ 14.30 million. Riverview Bancorp had a net margin of 32.00% and a return on equity of 12.67%. As a group, equity research analysts predict that Riverview Bancorp will post 0.96 EPS for the current fiscal year.
Meanwhile, Zacks Investment Research downgraded Riverview Bancorp’s stock rating from a âbuyâ rating to a âholdâ rating in a report released on Friday, November 5.
Hedge funds and other institutional investors recently bought and sold shares in the company. Two Sigma Investments LP acquired a new stake in Riverview Bancorp in the third quarter valued at approximately $ 73,000. UBS Group AG increased its stake in Riverview Bancorp by 8.8% in the third quarter. UBS Group AG now owns 16,420 shares of the savings and loan company valued at $ 120,000 after purchasing an additional 1,334 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Riverview Bancorp by 173.2% in the third quarter. Two Sigma Advisers LP now owns 41,800 shares of the savings and loan company valued at $ 304,000 after acquiring an additional 26,500 shares during the period. Finally, Morgan Stanley increased its stake in Riverview Bancorp by 31.9% in the second quarter. Morgan Stanley now owns 87,959 shares of the savings and loan company valued at $ 624,000 after acquiring an additional 21,281 shares in the last quarter. 63.94% of the shares are currently held by institutional investors and hedge funds.
Riverview Bancorp Company Profile
Riverview Bancorp, Inc. operates as a holding company. It provides community banking services to small and medium-sized businesses, professionals and individuals. It offers a range of deposit products, including demand deposits, negotiable withdrawal order accounts, money market accounts, savings accounts, certificates of deposit and retirement savings plans.
Recommended story: yield curve
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Riverview Bancorp now?
Before you consider Riverview Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the market in general takes hold … and Riverview Bancorp was not on the list.
While Riverview Bancorp currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bids.
See the 5 actions here