Share Buyback Plan Authorized by Riverview Bancorp (NASDAQ:RVSB) Board

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RVSB shares. Zacks Research raised shares of Riverview Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Riverview Bancorp in a report on Thursday, January 22nd. Finally, Wall Street Zen cut Riverview Bancorp from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Riverview Bancorp Trading Down 0.8%

NASDAQ:RVSB opened at $5.17 on Friday. The company has a 50-day moving average price of $5.18 and a 200-day moving average price of $5.17. Riverview Bancorp has a 12 month low of $4.74 and a 12 month high of $6.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The stock has a market cap of $107.28 million, a price-to-earnings ratio of 22.48 and a beta of 0.62.

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

Riverview Bancorp Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.5%. Riverview Bancorp’s dividend payout ratio is currently 34.78%.

About Riverview Bancorp

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.