Notes
Riverview Bancorp, Inc. (RVSB) operates as the bank holding company for Riverview Community Bank that provides various community banking services to commercial and retail customers in Washington and Oregon. It accepts various deposit products, including demand deposits, negotiable order of withdrawal accounts, money market accounts, regular savings accounts, certificates of deposit, and retirement savings plans. The bank originates various loan products, including commercial real estate, one to four family, multifamily construction, one to four family construction, multifamily construction, commercial land, and commercial real estate loans; and consumer loans, such as automobile loans, savings account loans, and home equity loans. The company also operates a trust and financial services company that originates mortgage loans for various mortgage companies primarily in Portland.Probably a good target for East Coast bank aiming to go national, e.g. Wachovia.
Only one analyst, predicting 10% growth in all areas for the next 5 yrs.
13May07
The Portland area still has a solid housing market:http://finance.yahoo.com/retirement/article/103016/Where-Home-Prices-Are-Hot-Now
May 2 Earnings Report
"The economy in Southwest Washington and Portland, Oregon continues to generate strong demand for business loans, although we are seeing indications that the pace of growth may be moderating,"
All growth numbers positive, reasonable.
No update of financials yet(?). No real 10-Q yet.
Yield: 2.8%
Maket cap < 200m
As of DEC 2006, equity/assets was about 12% (not bad).
Stock repurchase program in effect.
21MAR08 - $10.20
Whither housing prices in the Portland/Vancouver area?According to this source, the median ASKING prices declined 8% in the last year:
http://www.housingtracker.net/askingprices/Oregon/Portland-Vancouver-Beaverton/
According to zillow.com, the VALUE of Portland, OR housing increased 1% last year:
http://www.zillow.com/real-estate/OR-Portland
....while Vancouver, WA declined 2%
http://www.zillow.com/real-estate/WA-Vancouver
Portland's housing is the 20th least affordable, expressed as a ratio of housing price to income:
http://www.housingtracker.net/affordability/?sort=price-income&dir=up
Note the links above are constantly updated, so they probably won't give the same information at a later date.
Riverview declared a dividend of $0.09, a reduction of 2 cents, yielding 3.5% at the current price.
Market Cap (intraday): 111.64M
Enterprise Value (21-Mar-08): 198.01M
Trailing P/E (ttm, intraday): 11.22
Forward P/E (fye 31-Mar-09) : 11.00
PEG Ratio (5 yr expected): 0.96
Price/Sales (ttm): 2.58
Price/Book (mrq): 1.21
Enterprise Value/Revenue (ttm): 4.59
Net tangible assets/Total assets = 8%. Acceptable, but not very good. (I like it to be over 10%, and 5% is my absolute minimum.)
A director made a small purchase at $12.74, in February.
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