Reported Earnings • Jun 14
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: US$0.21 loss per share (down from US$0.23 profit in FY 2025). Revenue: US$41.8m (down 17% from FY 2025). Net loss: US$4.34m (down 189% from profit in FY 2025). Net interest margin (NIM): 2.86% (up from 2.54% in FY 2025). Cost-to-income ratio: 110.6% (up from 87.5% in FY 2025). Non-performing loans: 0.71% (up from 0.01% in FY 2025). Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 29
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: US$0.21 loss per share (down from US$0.23 profit in FY 2025). Revenue: US$41.8m (down 17% from FY 2025). Net loss: US$4.34m (down 189% from profit in FY 2025). Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Declared Dividend • Apr 04
Third quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 13th April 2026 Payment date: 24th April 2026 Dividend yield will be 1.5%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (35% payout ratio) and is expected to be well covered in 3 years' time (21% forecast payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 154% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 02
Riverview Bancorp, Inc. and Riverview Bank Announces Board Appointments, Effective April 2, 2026 Riverview Bancorp, Inc. announced the appointment of Kourosh Zamani and Jon Girod to its Board of Directors for Riverview Bank and Riverview Bancorp, Inc., effective immediately on April 2, 2026. Kourosh Zamani is co-founder of Laurel, a venture-backed technology company that pioneered the use of AI for time capture and analysis in professional services. Laurel serves leading law, accounting, and consulting firms globally and has raised over $150 million in funding. Prior to Laurel, Zamani served as Vice President of Business Development at Bailard, Inc., an investment management firm based in the San Francisco Bay Area, where he focused on client relationships and strategic growth initiatives. Zamani graduated from the University of California, Berkeley with a Bachelor of Science, Business Administration and holds a Master of Business Administration from the University of California, Berkeley, Haas School of Business. Jon Girod is the owner, builder and developer of Quail Homes and related companies in Vancouver, WA. Since 1989, he has built over 3,000 homes and developed more than 2,000 lots, with a primary focus on housing for empty nesters and multi-generational lifestyles. A past President of the Building Industry Association, Girod holds an accounting degree from Linfield University. He also is the founder of Careers in Construction NW, a nonprofit that embeds Skilled Trade Centers on high school campuses, offering industry-relevant curriculum and networking opportunities to help students enter or advance in the skilled trades upon graduation. Announcement • Apr 01
Riverview Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on April 24, 2026 Riverview Bancorp, Inc. announced that on March 26, 2026, its Board of Directors approved a quarterly cash dividend of $0.02 per share which remained unchanged compared to the preceding quarter. The dividend is payable on April 24, 2026, to shareholders of record as of April 13, 2026. Major Estimate Revision • Mar 27
Consensus EPS estimates fall from profit to US$0.20 loss The consensus outlook for fiscal year 2026 has been updated. Forecast loss of -US$0.20 per share in 2026, versus previous forecasts of US$0.23 per share. Revenue forecast unchanged from US$54.8m at last update. Banks industry in the US expected to see average net income growth of 15% next year. Consensus price target of US$7.00 unchanged from last update. Share price rose 7.0% to US$5.52 over the past week. Announcement • Jan 29
Riverview Bancorp, Inc. (NasdaqGS:RVSB) announces an Equity Buyback for $4 million worth of its shares. Riverview Bancorp, Inc. (NasdaqGS:RVSB) announces a share repurchase program. Under the program, the company will repurchase up to $4 million worth of its outstanding shares. The program will continue until the earlier of the completion of the repurchase or 12 months after the effective date. Reported Earnings • Jan 28
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: US$0.066 (up from US$0.059 in 3Q 2025). Revenue: US$13.9m (up 9.6% from 3Q 2025). Net income: US$1.38m (up 12% from 3Q 2025). Profit margin: 9.9% (in line with 3Q 2025). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 75%. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Jan 28
Riverview Bancorp, Inc. Reports Net Loan Charge-Offs for the Third Quarter Ended December 31, 2025 Riverview Bancorp, Inc. reported net loan charge-offs for the third quarter ended December 31, 2025. For the period, the company reports Net loan charge-offs of $246,000 against $114,000 a year ago. Declared Dividend • Dec 26
Second quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 5th January 2026 Payment date: 16th January 2026 Dividend yield will be 1.6%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 25
Riverview Bancorp, Inc. announces Quarterly dividend, payable on January 16, 2026 Riverview Bancorp, Inc. announced Quarterly dividend of USD 0.0200 per share payable on January 16, 2026, ex-date on January 05, 2026 and record date on January 05, 2026. Major Estimate Revision • Nov 04
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$54.9m to US$54.3m. EPS estimate also fell from US$0.25 per share to US$0.21 per share. Net income forecast to grow 27% next year vs 18% growth forecast for Banks industry in the US. Consensus price target of US$7.00 unchanged from last update. Share price rose 4.5% to US$5.30 over the past week. Announcement • Oct 30
Riverview Bancorp, Inc. Reports Net Loan Charge-Offs for the Quarter Ended September 30, 2025 Riverview Bancorp, Inc. reported net loan charge-offs for the quarter ended September 30, 2025. For the period, Company reports Net loan charge-offs (recoveries) in the quarter $1,000 compared to $2,000 a year ago. Declared Dividend • Oct 02
First quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 9th October 2025 Payment date: 20th October 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next year, which should provide support to the dividend and adequate earnings cover. Board Change • Sep 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Director Larry Hoff was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Sep 30
Riverview Bancorp Declares Quarterly Cash Dividend, Payable on October 20, 2025 Riverview Bancorp, Inc. announced that on September 25, 2025, its Board of Directors approved a quarterly cash dividend of $0.02 per share which remained unchanged compared to the preceding quarter. The dividend is payable on October 20, 2025, to shareholders of record as of October 9, 2025. Announcement • Aug 27
Riverview Bancorp, Inc. Announces Executive Changes Riverview Bancorp, Inc. announced that Graham Clancy has joined Riverview as Senior Vice President and Director of Finance, and Phung Le has been promoted to Senior Vice President and Controller following the upcoming retirement of Wendy Beck. Mr. Clancy and Ms. Le will report directly to Chief Financial Officer David Lam and collaborate to provide a first-in-class accounting and finance team. Mr. Clancy has more than 14 years of experience in finance, accounting, budgeting, forecasting and asset and liability management in the banking industry. He joins Riverview from Heritage Bank where he was Vice President, Senior Finance Officer, and responsible for finance and accounting reporting. Prior to that he spent over a decade at Umpqua Bank where he most recently was Vice President, Strategy Activation Manager, and was responsible for frontline strategy and support. Mr. Clancy holds a B.S. in Business Administration from the University of Oregon, Lundquist College of Business and is a graduate of the Pacific Coast Banking School at the University of Washington, Foster School of Business. Ms. Le has been named as Riverview’s next Controller, following the upcoming retirement of Wendy Beck. Ms. Le has over 10 years of experience in accounting with financial institutions. Ms. Le joined Riverview in 2019, where she most recently held the title of Vice President and Assistant Controller and was responsible for daily accounting operations, ensuring compliance with GAAP, banking regulations, and internal policies. Prior to joining Riverview Bank, Ms. Le spent 3 years in public accounting where she was a senior assurance team member focused on financial institutions where she developed a deep understanding of financial reporting, internal controls, and industry specific regulations. She holds a B.A. in Business Administration and Accounting from Washington State University. Reported Earnings • Jul 30
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$0.058 (up from US$0.046 in 1Q 2025). Revenue: US$13.3m (up 8.9% from 1Q 2025). Net income: US$1.23m (up 27% from 1Q 2025). Profit margin: 9.2% (up from 7.9% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. New Risk • Jul 24
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Jul 21
Riverview Bancorp, Inc., Annual General Meeting, Aug 28, 2025 Riverview Bancorp, Inc., Annual General Meeting, Aug 28, 2025. Declared Dividend • Jun 30
Fourth quarter dividend of US$0.02 announced Dividend of US$0.02 is the same as last year. Ex-date: 10th July 2025 Payment date: 22nd July 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (34% payout ratio) and is expected to be well covered in 3 years' time (19% forecast payout ratio). The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 73% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Riverview Bancorp Declares Quarterly Cash Dividend, Payable on July 22, 2025 Riverview Bancorp, Inc. announced that on June 26, 2025, its Board of Directors approved a quarterly cash dividend of $0.02 per share which remained unchanged compared to the preceding quarter. The dividend is payable on July 22, 2025, to shareholders of record as of July 10, 2025. Reported Earnings • Jun 15
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.23 (up from US$0.18 in FY 2024). Revenue: US$50.2m (up 4.0% from FY 2024). Net income: US$4.90m (up 29% from FY 2024). Profit margin: 9.8% (up from 7.9% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.54% (down from 2.56% in FY 2024). Cost-to-income ratio: 87.5% (down from 90.5% in FY 2024). Non-performing loans: 0.01% (down from 0.02% in FY 2024). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • May 02
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.23 (up from US$0.18 in FY 2024). Revenue: US$50.5m (up 4.5% from FY 2024). Net income: US$4.90m (up 29% from FY 2024). Profit margin: 9.7% (up from 7.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. New Risk • May 01
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.7% net profit margin). Declared Dividend • Apr 04
Third quarter dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 14th April 2025 Payment date: 25th April 2025 Dividend yield will be 1.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (322% earnings payout ratio). However, the dividend is expected to be well covered in 3 years' time (22% forecast payout ratio). The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 257% to bring the payout ratio under control. EPS is expected to grow by 161% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Apr 03
Riverview Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on April 25, 2025 Riverview Bancorp, Inc. announced that on March 27, 2025, its Board of Directors approved a quarterly cash dividend of $0.02 per share which remained unchanged compared to the preceding quarter. The dividend is payable on April 25, 2025, to shareholders of record as of April 14, 2025. Price Target Changed • Feb 04
Price target increased by 19% to US$6.25 Up from US$5.25, the current price target is provided by 1 analyst. New target price is 11% above last closing price of US$5.62. Stock is up 13% over the past year. The company is forecast to post earnings per share of US$0.20 for next year compared to US$0.18 last year. Reported Earnings • Feb 01
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$0.059 (down from US$0.069 in 3Q 2024). Revenue: US$12.7m (up 2.8% from 3Q 2024). Net income: US$1.23m (down 15% from 3Q 2024). Profit margin: 9.7% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Declared Dividend • Dec 26
Second quarter dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 2nd January 2025 Payment date: 14th January 2025 Dividend yield will be 2.1%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 273% to bring the payout ratio under control. EPS is expected to grow by 87% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Dec 24
Riverview Bancorp Declares Quarterly Cash Dividend, Payable on January 2, 2025 Riverview Bancorp, Inc. announced that on December 17, 2024, its Board of Directors approved a quarterly cash dividend of $0.02 per share which remained unchanged compared to the preceding quarter. The dividend is payable on January 2, 2025, to shareholders of record as of January 14, 2025. Major Estimate Revision • Nov 01
Consensus EPS estimates increase by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from US$0.17 to US$0.20. Revenue forecast steady at US$49.6m. Net income forecast to grow 432% next year vs 12% growth forecast for Banks industry in the US. Consensus price target of US$5.25 unchanged from last update. Share price was steady at US$4.74 over the past week. Reported Earnings • Oct 25
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.074 (down from US$0.12 in 2Q 2024). Revenue: US$12.7m (down 4.3% from 2Q 2024). Net income: US$1.56m (down 37% from 2Q 2024). Profit margin: 12% (down from 19% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 75%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Declared Dividend • Sep 30
First quarter dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 7th October 2024 Payment date: 18th October 2024 Dividend yield will be 3.4%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.6% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 144% to bring the payout ratio under control. EPS is expected to grow by 74% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Major Estimate Revision • Aug 01
Consensus EPS estimates fall by 32% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$51.0m to US$49.5m. EPS estimate also fell from US$0.25 per share to US$0.17 per share. Net income forecast to grow 137% next year vs 8.5% growth forecast for Banks industry in the US. Consensus price target of US$5.25 unchanged from last update. Share price rose 5.0% to US$4.62 over the past week. Reported Earnings • Jul 28
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: US$0.046 (down from US$0.14 in 1Q 2024). Revenue: US$12.2m (down 11% from 1Q 2024). Net income: US$966.0k (down 66% from 1Q 2024). Profit margin: 7.9% (down from 21% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Jul 22
Riverview Bancorp, Inc., Annual General Meeting, Aug 28, 2024 Riverview Bancorp, Inc., Annual General Meeting, Aug 28, 2024. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$4.43, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Banks industry in the US. Total loss to shareholders of 30% over the past three years. Declared Dividend • Jul 01
Fourth quarter dividend reduced to US$0.02 Dividend of US$0.02 is 67% lower than last year. Ex-date: 10th July 2024 Payment date: 22nd July 2024 Dividend yield will be 5.0%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (134% earnings payout ratio). However, the dividend is expected to be covered in 3 years' time (53% forecast payout ratio). The dividend has increased by an average of 20% per year over the past 9 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 48% to bring the payout ratio under control. EPS is expected to grow by 113% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jun 28
Riverview Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on July 22, 2024 Riverview Bancorp, Inc. announced that on June 26, 2024, its Board of Directors approved a quarterly cash dividend of $0.02 per share, which is a $0.04 decrease compared to the preceding quarter. The dividend is payable on July 22, 2024, to shareholders of record as of July 10, 2024. Reported Earnings • Jun 20
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: US$0.18 (down from US$0.83 in FY 2023). Revenue: US$48.3m (down 23% from FY 2023). Net income: US$3.80m (down 79% from FY 2023). Profit margin: 7.9% (down from 29% in FY 2023). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.56% (down from 3.26% in FY 2023). Cost-to-income ratio: 90.5% (up from 61.7% in FY 2023). Non-performing loans: 0.02% (down from 0.18% in FY 2023). Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) also missed analyst estimates by 49%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year. Major Estimate Revision • May 02
Consensus EPS estimates increase by 39% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$48.9m to US$50.9m. EPS estimate increased from US$0.18 to US$0.25 per share. Net income forecast to grow 40% next year vs 1.5% growth forecast for Banks industry in the US. Consensus price target down from US$6.00 to US$5.25. Share price fell 11% to US$3.94 over the past week. Reported Earnings • Apr 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: US$0.18 (down from US$0.83 in FY 2023). Revenue: US$48.3m (down 23% from FY 2023). Net income: US$3.80m (down 79% from FY 2023). Profit margin: 7.9% (down from 29% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) also missed analyst estimates by 49%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 14% per year. Declared Dividend • Apr 03
Third quarter dividend of US$0.06 announced Dividend of US$0.06 is the same as last year. Ex-date: 10th April 2024 Payment date: 22nd April 2024 Dividend yield will be 5.3%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (52% payout ratio) and is expected to be covered in 3 years' time (76% forecast payout ratio). The dividend has increased by an average of 20% per year over the past 9 years and payments have been stable during that time. EPS is expected to decline by 25% over the next 2 years. However, it would need to fall by 42% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 02
Riverview Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on April 22, 2024 Riverview Bancorp, Inc. announced that on March 27, 2024, its Board of Directors approved a quarterly cash dividend to $0.06 per share, which remained unchanged compared to the preceding quarter. The dividend will be payable April 22, 2024, to shareholders of record on April 11, 2024. Based on the current share price, the annualized dividend yield is 5.08%. Recent Insider Transactions • Feb 29
Key Executive recently bought US$107k worth of stock On the 23rd of February, Gerald Nies bought around 22k shares on-market at roughly US$4.85 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Gerald's only on-market trade for the last 12 months. New Risk • Feb 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.4m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (18% net profit margin). Market cap is less than US$100m (US$98.4m market cap). Major Estimate Revision • Feb 01
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$53.0m to US$51.3m. EPS estimate also fell from US$0.42 per share to US$0.35 per share. Net income forecast to shrink 51% next year vs 3.6% decline forecast for Banks industry in the US. Consensus price target of US$6.00 unchanged from last update. Share price fell 5.3% to US$5.49 over the past week. Reported Earnings • Jan 26
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: US$0.069 (down from US$0.24 in 3Q 2023). Revenue: US$12.4m (down 26% from 3Q 2023). Net income: US$1.45m (down 72% from 3Q 2023). Profit margin: 12% (down from 31% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to stay flat during the next 2 years compared to a 5.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Announcement • Dec 27
Riverview Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on January 16, 2024 Riverview Bancorp, Inc. announced that on December 20, 2023, its Board of Directors approved a quarterly cash dividend to $0.06 per share, which remained unchanged compared to the preceding quarter. The dividend will be payable on January 16, 2024, to shareholders of record on January 5, 2024. Based on the current share price, the annualized dividend yield is 3.84%. Reported Earnings • Oct 29
Second quarter 2024 earnings: EPS in line with expectations, revenues disappoint Second quarter 2024 results: EPS: US$0.12 (down from US$0.24 in 2Q 2023). Revenue: US$13.3m (down 20% from 2Q 2023). Net income: US$2.47m (down 52% from 2Q 2023). Profit margin: 19% (down from 31% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Oct 05
Riverview Bancorp Declares Quarterly Cash Dividend, Payable October 23, 2023 Riverview Bancorp, Inc. announced that on September 27, 2023, its Board of Directors approved a quarterly cash dividend to $0.06 per share, which remained unchanged compared to the preceding quarter. The dividend will be payable October 23, 2023, to shareholders of record on October 12, 2023. Based on the current share price, the annualized dividend yield is 4.32%. Recent Insider Transactions • Sep 09
Independent Director recently bought US$60k worth of stock On the 6th of September, Valerie Moreno bought around 10k shares on-market at roughly US$5.89 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$186k more in shares than they have sold in the last 12 months. Announcement • Aug 23
Riverview Bancorp, Inc. Announces Management Changes Riverview Bancorp, Inc. announced that, as part of its multi-step leadership succession planning process, has promoted a number of senior managers at Riverview Bank (the “Bank” and collectively “Riverview”) and Bancorp. Daniel Cox has been promoted to Chief Operating Officer of the Bank and Bancorp by the Board of Directors, effective immediately. Mr. Cox will also continue to serve as Acting President and Chief Executive Officer. Mr. Cox has been a member of the executive management team since 2014 in the role of Chief Credit Officer. In his new role, he will be responsible for the daily operations and management of the Bank. Mr. Cox joined Riverview in August 2002, most recently serving as Executive Vice President and Chief Credit Officer of the Bank where he was responsible for the Bank’s commercial credit and collection policies procedures and processes. He graduated Summa Cum Laude from Washington State University – Vancouver with a Bachelor of Arts in Business Administration with a major emphasis in Finance. He is an Honor Roll alum of the Pacific Coast Banking School. Mr. Cox is an active mentor in the local schools and was the Past Treasurer and Endowment Chair for the Washougal Schools Foundation and Past Board Member of Camas-Washougal Chamber of Commerce. Robert Benke has been promoted to Executive Vice President and Chief Credit Officer, and will oversee all commercial credit and collection policies, procedures and processes of the Bank. He most recently served as Senior Credit Administrator, a position he has held since March 2016. Mr. Benke joined Riverview in July 2004 and spent five years as a commercial lender and progressed through the credit administration function starting in 2012 most recently serving as Senior Vice President of Credit Administration. He is responsible for credit administration related to the Bank’s commercial and consumer loan activities. He holds a Master’s in Business Administration from Washington State University, a Bachelor of Arts in Physics from Whitman College, and is a 2015 graduate of the Pacific Coast Banking School. Mr. Benke is an active board member of the Washington State University – Vancouver MAP Program. Michael Sventek joins Riverview as Executive Vice President and Chief Lending Officer of the Bank. Mr. Sventek has over 32 years of experience in community banking, having most recently served as Commercial Banking Market Director for Umpqua Bank. Prior to that, he served as Commercial Banking President for BBVA USA. Throughout his career, Mr. Sventek served as a highly visible finance leader for community banks and brings a vast amount of experience in commercial banking and lending. Mr. Sventek graduated with a Bachelor of Science in Computer Science Engineering from Northern Arizona University and is a graduate of the Pacific Coast Banking School. Michael Sventek replaces Steven Plambeck, who will be retiring September 1, 2023. Steven joined Riverview in 2011 and has held the positions of Executive Vice President and Chief Lending Officer of the Bank since March 2018. Reported Earnings • Jul 28
First quarter 2024 earnings: EPS in line with expectations, revenues disappoint First quarter 2024 results: EPS: US$0.14 (down from US$0.21 in 1Q 2023). Revenue: US$13.6m (down 14% from 1Q 2023). Net income: US$2.84m (down 39% from 1Q 2023). Profit margin: 21% (down from 30% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.2% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jul 24
Riverview Bancorp, Inc., Annual General Meeting, Aug 23, 2023 Riverview Bancorp, Inc., Annual General Meeting, Aug 23, 2023, at 10:00 US Eastern Standard Time. Agenda: To consider the election of three directors to each serve for a three-year term; to consider the advisory (non-binding) vote to approve the compensation paid to named executive officers, as disclosed in this Proxy Statement; to consider advisory (non-binding) vote on the frequency of future votes to approve the compensation paid to named executive officers; and to transact such other business issues. Announcement • Jul 01
Riverview Bancorp Declares Quarterly Cash Dividend, Payable July on 24, 2023 Riverview Bancorp, Inc. announced that on June 28, 2023, its Board of Directors approved a quarterly cash dividend to $0.06 per share, which remained unchanged compared to the preceding quarter. The dividend will be payable July 24, 2023, to shareholders of record on July 11, 2023. Based on the current share price, the annualized dividend yield is 4.77%. Reported Earnings • Jun 19
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$0.83 (down from US$0.98 in FY 2022). Revenue: US$63.1m (down 3.7% from FY 2022). Net income: US$18.1m (down 17% from FY 2022). Profit margin: 29% (down from 33% in FY 2022). The decrease in margin was primarily driven by lower revenue. Net interest margin (NIM): 3.26% (up from 3.03% in FY 2022). Cost-to-income ratio: 61.7% (up from 60.8% in FY 2022). Non-performing loans: 0.18% (down from 2.23% in FY 2022). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 5.7%. Revenue is expected to decline by 4.0% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$4.52, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Banks industry in the US. Total returns to shareholders of 2.4% over the past three years. Major Estimate Revision • May 04
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$61.6m to US$55.9m. EPS estimate also fell from US$0.68 per share to US$0.48 per share. Net income forecast to shrink 43% next year vs 5.7% decline forecast for Banks industry in the US. Consensus price target down from US$6.50 to US$6.00. Share price fell 12% to US$4.65 over the past week. Reported Earnings • Apr 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$0.83 (down from US$0.98 in FY 2022). Revenue: US$63.1m (down 3.7% from FY 2022). Net income: US$18.1m (down 17% from FY 2022). Profit margin: 29% (down from 33% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 5.7%. Revenue is forecast to stay flat during the next 2 years compared to a 3.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 11
Price target decreased by 24% to US$6.50 Down from US$8.50, the current price target is provided by 1 analyst. New target price is 18% above last closing price of US$5.53. Stock is down 23% over the past year. The company is forecast to post earnings per share of US$0.88 for next year compared to US$0.98 last year. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to US$5.45, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Banks industry in the US. Total returns to shareholders of 31% over the past three years. Reported Earnings • Jan 28
Third quarter 2023 earnings: Revenues and EPS in line with analyst expectations Third quarter 2023 results: EPS: US$0.24 (down from US$0.25 in 3Q 2022). Revenue: US$16.7m (up 1.3% from 3Q 2022). Net income: US$5.24m (down 4.9% from 3Q 2022). Profit margin: 31% (down from 34% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 27
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 03 January 2023. Payment date: 16 January 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (4.5%). In line with average of industry peers (3.2%). Announcement • Dec 23
Riverview Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on January 16, 2023 Riverview Bancorp, Inc. announced that on December 21, 2022, its Board of Directors approved a quarterly cash dividend to $0.06 per share, which remained unchanged compared to the preceding quarter. The dividend will be payable January 16, 2023, to shareholders of record on January 4, 2023. Based on the current share price, the annualized dividend yield is 3.20%. Announcement • Nov 18
Riverview Bancorp, Inc. (NasdaqGS:RVSB) announces an Equity Buyback for $2.5 million worth of its shares. Riverview Bancorp, Inc. (NasdaqGS:RVSB) announces a share repurchase program. Under the program, the company will repurchase up to $2.5 million worth of its outstanding shares. The program will continue until the earlier of the completion of the repurchase or May 28, 2023. Recent Insider Transactions • Nov 10
Insider recently bought US$61k worth of stock On the 7th of November, Larry Hoff bought around 9k shares on-market at roughly US$6.96 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$109k more in shares than they have sold in the last 12 months. Announcement • Oct 29
Riverview Bancorp, Inc. Reports Net Loan Charge-Offs for the Second Quarter Ended September 30, 2022 Riverview Bancorp, Inc. reported net loan charge-offs for the second quarter ended September 30, 2022. The company recorded net loan charge-offs (recoveries) of $7,000 during the second fiscal quarter. This compared to net loan recoveries of $36,000 for the preceding quarter and net loan recoveries of $10,000 in the second fiscal quarter a year ago. Reported Earnings • Oct 28
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: US$0.24 (down from US$0.29 in 2Q 2022). Revenue: US$16.6m (down 11% from 2Q 2022). Net income: US$5.19m (down 19% from 2Q 2022). Profit margin: 31% (down from 35% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Sep 08
Riverview Bancorp, Inc. Announces Board Changes On August 31, 2022, Director John A. Karas announced that he was resigning from the Board of Riverview Bancorp, Inc., and its financial institution subsidiary, Riverview Community Bank (the “Bank”) effective August 31, 2022 Mr. Karas served as a Director of the Company and the Bank since 2017 and as a member of the Audit Committee. The Company has appointed Mr. Gerald L. Nies to serve as a member of the Audit Committee. Announcement • Jul 16
Riverview Bancorp, Inc., Annual General Meeting, Aug 24, 2022 Riverview Bancorp, Inc., Annual General Meeting, Aug 24, 2022, at 10:00 US Eastern Standard Time. Agenda: To consider election of three directors to each serve for a three-year term; to advisory (non-binding) vote to approve the compensation paid to company named executive officers, as disclosed in this Proxy Statement. Announcement • Jul 02
Riverview Bancorp, Inc. Names Tracie Jellison as Chief Retail Banking Officer Riverview Bancorp, Inc. has named Tracie Jellison as Chief Retail Banking Officer. Ms. Jellison joined the Bank nearly one year ago and has led its commercial team in the Oregon market. With her extensive experience on the retail side of the business, Tracie is happy to return to her roots. Tracie is not a stranger to banking. In fact, she has worked in banking for more than 30 years, starting her career in Boise, Idaho, as a customer service representative. After three years of working on the front line with clients, she transitioned to become a consumer loan officer. After working for six years in that role, she was promoted to a senior loan officer, managing a team of lenders and the Visa credit card department. From there, Tracie made the transition to business lending. For the past 10 years, Tracie has mastered commercial lending, most recently at Riverview Community Bank and prior to that she was at Columbia Credit Union. Upcoming Dividend • Jun 30
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 21 July 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.2%). Announcement • Jun 24
Riverview Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on July 21, 2022 Riverview Bancorp, Inc. announced that on June 22, 2022, its Board of Directors approved an increase in its quarterly cash dividend to $0.06 per share. The dividend will be payable on July 21, 2022, to shareholders of record on July 8, 2022. Reported Earnings • Jun 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$0.98 (up from US$0.47 in FY 2021). Revenue: US$64.5m (up 30% from FY 2021). Net income: US$21.8m (up 108% from FY 2021). Profit margin: 34% (up from 21% in FY 2021). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.03% (down from 3.41% in FY 2021). Cost-to-income ratio: 60.8% (down from 64.7% in FY 2021). Non-performing loans: 2.23% (up from 0.06% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.0%. Over the next year, revenue is expected to shrink by 1.7% compared to a 11% growth forecast for the banks industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 29
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$0.98 (up from US$0.47 in FY 2021). Revenue: US$65.0m (up 31% from FY 2021). Net income: US$21.8m (up 108% from FY 2021). Profit margin: 34% (up from 21% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.0%. Over the next year, revenue is expected to shrink by 6.1% compared to a 11% growth forecast for the banks industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to US$8.50 Up from US$7.50, the current price target is provided by 1 analyst. New target price is 21% above last closing price of US$7.05. Stock is up 1.0% over the past year. The company is forecast to post earnings per share of US$0.99 for next year compared to US$0.47 last year. Announcement • Mar 30
Riverview Bancorp Declares Quarterly Cash Dividend, Payable on April 21, 2022 Riverview Bancorp, Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.055 per share, which remained unchanged compared to the preceding quarter. The dividend will be payable April 21, 2022, to shareholders of record on April 11, 2022. Based on the current share price, the annualized dividend yield is 2.91%.