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 “buy” rating to a “hold” 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.
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