River City Bank (NASDAQ:RCBC) Announces Earnings Results, Meets Estimates

Key Points

• River City Bank reported quarterly earnings of $1.29 per share, exactly matching analysts’ consensus estimate.
• The stock fell 0.6% to $55.17 in Friday trading, near its 52-week high of $56.71.
• Analyst sentiment remains mixed but averages to a “Hold” rating, with two Buy ratings, three Holds and one Sell; the average price target is $55.00.

River City Bank (NASDAQ:RCBC - Get Free Report) announced its quarterly earnings data on Friday. The company reported $1.29 earnings per share for the quarter, hitting analysts' consensus estimates of $1.29, Zacks reports.

River City Bank Trading Down 0.6%

Shares of River City Bank stock traded down $0.35 on Friday, hitting $55.17. The company's stock had a trading volume of 31,361 shares, compared to its average volume of 30,676. River City Bank has a 52-week low of $38.50 and a 52-week high of $56.71.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research raised River City Bank to a "hold" rating in a report on Tuesday, September 1st. Weiss Ratings initiated coverage on shares of River City Bank in a research note on Friday, August 28th. They set a "sell (d)" rating on the stock. DA Davidson initiated coverage on shares of River City Bank in a report on Monday, August 31st. They issued a "neutral" rating and a $55.00 price target for the company. Raymond James Financial initiated coverage on shares of River City Bank in a research note on Monday, August 31st. They issued an "outperform" rating and a $56.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised shares of River City Bank to a "moderate buy" rating in a report on Monday, August 31st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $55.00.

About River City Bank

River City Bank is a California-based commercial bank that provides banking and financial services to businesses, professionals, nonprofit organizations and individuals. The bank focuses on relationship-based banking and offers commercial and real estate lending, business and personal deposit accounts, treasury management and online banking services.

Founded in 1973, River City Bank is headquartered in Sacramento and serves customers primarily throughout Northern California. Its banking activities include providing credit facilities for commercial enterprises and real estate projects, along with cash-management and other financial solutions designed to support business operations.

River City Bank operates through its banking offices and digital channels, serving markets that include the Sacramento region and the San Francisco Bay Area.

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