Share Buyback Plan Approved by Riverview Bancorp (NASDAQ:RVSB) Board of Directors

Riverview Bancorp (NASDAQ:RVSB) declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 29th, RTT News reports. The company plans to repurchase $2.00 million in shares. This repurchase authorization allows the savings and loans company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Riverview Bancorp in a research report on Friday, March 7th. They issued a “hold” rating for the company.

Riverview Bancorp Trading Up 1.3 %

Shares of RVSB opened at $6.40 on Friday. The stock has a fifty day moving average price of $5.58 and a two-hundred day moving average price of $5.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.86 and a current ratio of 0.86. Riverview Bancorp has a 52-week low of $3.30 and a 52-week high of $6.55. The company has a market cap of $134.25 million, a price-to-earnings ratio of 160.04 and a beta of 0.55.

Riverview Bancorp (NASDAQ:RVSB) last released its earnings results on Tuesday, April 29th. The savings and loans company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.40 million. Riverview Bancorp had a return on equity of 2.92% and a net margin of 1.13%. Analysts predict that Riverview Bancorp will post 0.2 EPS for the current fiscal year.

Riverview Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, April 14th were given a dividend of $0.02 per share. The ex-dividend date was Monday, April 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.25%. Riverview Bancorp’s payout ratio is currently 200.00%.

Insider Transactions at Riverview Bancorp

In other news, major shareholder Martin S. Friedman sold 186,348 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.18, for a total transaction of $965,282.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Riverview Bancorp Company Profile

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.