River City Bank (NASDAQ:RCBC) Price Target Raised to $61.00

River City Bank (NASDAQ:RCBC) had its target price raised by Stephens from $55.00 to $61.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on RCBC. Wall Street Zen upgraded shares of River City Bank to a “hold” rating in a research note on Saturday, September 26th. DA Davidson upped their price target on shares of River City Bank from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, October 27th. Zacks Research raised shares of River City Bank to a “hold” rating in a report on Tuesday, September 1st. Keefe, Bruyette & Woods upgraded shares of River City Bank to a “moderate buy” rating in a research note on Monday, August 31st. Finally, Raymond James Financial initiated coverage on shares of River City Bank in a research note on Monday, August 31st. They set an “outperform” rating and a $56.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.33.

River City Bank Trading Up 4.0%

Shares of NASDAQ:RCBC opened at $60.38 on Monday. The company’s 50-day simple moving average is $53.98. River City Bank has a 1 year low of $38.76 and a 1 year high of $60.56.

River City Bank (NASDAQ:RCBC) last issued its quarterly earnings results on Friday, October 23rd. The company reported $1.29 earnings per share for the quarter, hitting the consensus estimate of $1.29. The business had revenue of $40.50 million during the quarter, compared to analyst estimates of $39.68 million. Research analysts expect that River City Bank will post 5.39 EPS for the current fiscal year.

River City Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. River City Bank’s payout ratio is 15.50%.

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.