Riverview Bancorp, Inc. (NASDAQ:RVSB) Plans Quarterly Dividend of $0.02

Riverview Bancorp, Inc. (NASDAQ:RVSB) announced a quarterly dividend on Thursday, September 26th, Zacks reports. Shareholders of record on Monday, October 7th will be given a dividend of 0.02 per share by the savings and loans company on Friday, October 18th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, October 7th.

Riverview Bancorp has increased its dividend payment by an average of 6.3% per year over the last three years. Riverview Bancorp has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Riverview Bancorp to earn $0.35 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 22.9%.

Riverview Bancorp Price Performance

NASDAQ:RVSB traded up $0.03 during midday trading on Friday, hitting $4.72. 22,356 shares of the stock were exchanged, compared to its average volume of 27,232. The company has a market capitalization of $99.59 million, a price-to-earnings ratio of 26.22 and a beta of 0.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.92. Riverview Bancorp has a one year low of $3.30 and a one year high of $6.57. The business has a 50-day moving average price of $4.56 and a two-hundred day moving average price of $4.32.

Riverview Bancorp (NASDAQ:RVSB) last posted its quarterly earnings data on Thursday, July 25th. The savings and loans company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Riverview Bancorp had a return on equity of 3.69% and a net margin of 2.86%. The firm had revenue of $17.77 million during the quarter, compared to the consensus estimate of $12.20 million. Sell-side analysts predict that Riverview Bancorp will post 0.16 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Riverview Bancorp in a research report on Tuesday. They set a “hold” rating for the company.

About Riverview Bancorp

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.