River City Bank (NASDAQ:RCBC) Posts Quarterly Earnings Results, Hits Expectations

River City Bank (NASDAQ:RCBC) released its quarterly earnings data on Friday. The company reported $1.29 EPS for the quarter, meeting the consensus estimate of $1.29, Zacks reports. The business had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $39.68 million.

River City Bank Price Performance

Shares of RCBC stock opened at $55.17 on Friday. River City Bank has a 12 month low of $38.50 and a 12 month high of $56.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded River City Bank to a “moderate buy” rating in a research report on Monday, August 31st. Zacks Research upgraded River City Bank to a “hold” rating in a research report on Tuesday, September 1st. Wall Street Zen upgraded River City Bank to a “hold” rating in a research report on Saturday, September 26th. DA Davidson began coverage on River City Bank in a research note on Monday, August 31st. They set a “neutral” rating and a $55.00 target price for the company. Finally, Stephens began coverage on River City Bank in a research note on Monday, August 31st. They set an “equal weight” rating and a $54.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.00.

River City Bank Company Profile

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.