American River Shares Gain as Q4 EPS Tops Views

American River Bankshares shares rose 5% in morning trading on Thursday after the bank holding company reported higher-than-expected Q4 profit, resumed its quarterly dividend and unveiled a 5% stock buyback program.

EPS increased to $0.29 in the December quarter, from $0.20 a year earlier. That topped the $0.21 average estimate of three analysts surveyed by Capital IQ.

Q4 net interest income increased 0.3% to $5.1 million, while non-interest income increased 22.2% to $0.5 million. Total revenue was $5.6 million, in line with analyst expectations.

The company said it will resume paying a quarterly cash dividend, in the amount of $0.05 per share, payable on Feb. 22 to shareholders of record on Feb. 8.

Also on Thursday, the company said it authorized a new stock repurchase program for 2017. The 2017 program authorizes the repurchase during 2017 of up to 5% of the outstanding shares, or 333,086 shares.

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