River City Bank (NASDAQ:RCBC) Shares Shorted: Short Interest Up 2,901.8% in September

River City Bank (NASDAQ:RCBC) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 86,272 shares, an increase of 2,901.8% from the August 31st total of 2,874 shares. Based on an average trading volume of 71,546 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.6% of the company’s shares are short sold.

River City Bank Stock Performance

NASDAQ RCBC traded down $0.50 during trading on Thursday, reaching $50.52. 78,790 shares of the stock traded hands, compared to its average volume of 21,026. River City Bank has a fifty-two week low of $38.20 and a fifty-two week high of $54.88.

Analyst Upgrades and Downgrades

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

River City Bank Company Profile

River City Bank is a commercial bank headquartered in Sacramento, California. The bank provides banking and financial services to businesses, professionals, nonprofit organizations and individuals, with an emphasis on relationship-based commercial banking.

Its products and services include commercial and industrial lending, commercial real estate financing, construction loans, business lines of credit, residential and consumer loans, deposit accounts, treasury management and online banking services.