Stock Repurchase Plan Declared by Riverview Bancorp (NASDAQ:RVSB) Board

Riverview Bancorp (NASDAQ:RVSB) declared that its Board of Directors has approved a share buyback program on Wednesday, January 28th, RTT News reports. The company plans to buyback $4.00 million in outstanding shares. This buyback authorization authorizes the savings and loans company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen lowered Riverview Bancorp from a “hold” rating to a “strong sell” rating in a report on Saturday, November 1st. Zacks Research upgraded Riverview Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Riverview Bancorp in a research note on Thursday, January 22nd. One investment 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, the company has an average rating of “Hold” and an average price target of $7.00.

Riverview Bancorp Trading Up 0.4%

Shares of NASDAQ:RVSB opened at $5.21 on Friday. The company has a market capitalization of $108.11 million, a PE ratio of 22.65 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 fifty day simple moving average is $5.18 and its 200-day simple moving average is $5.18.

Riverview Bancorp (NASDAQ:RVSB) last issued its quarterly earnings data on Tuesday, January 27th. The savings and loans company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Riverview Bancorp had a return on equity of 3.00% and a net margin of 6.41%.The company had revenue of $14.05 million for the quarter, compared to the consensus estimate of $13.70 million. As a group, equities research analysts predict that Riverview Bancorp will post 0.2 earnings per share for the current fiscal year.

Riverview Bancorp Announces Dividend

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

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.