River City Bank (NASDAQ:RCBC) Reaches New 1-Year High After Dividend Announcement

River City Bank (NASDAQ:RCBC) hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as $56.85 and last traded at $56.8490, with a volume of 28,939 shares trading hands. The stock had previously closed at $55.17.

The newly announced dividend which will be paid on Tuesday, November 17th. Investors of record on Tuesday, November 3rd will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $0.20 annualized dividend and a yield of 0.4%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of River City Bank to a “moderate buy” rating in a research note on Monday, August 31st. Raymond James Financial assumed coverage on shares of River City Bank in a report on Monday, August 31st. They set an “outperform” rating and a $56.00 price target for the company. Zacks Research upgraded River City Bank to a “hold” rating in a report on Tuesday, September 1st. DA Davidson started coverage on River City Bank in a report on Monday, August 31st. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Wall Street Zen raised River City Bank to a “hold” rating in a research note on Saturday, September 26th. Two equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.00.

River City Bank Stock Up 2.8%

River City Bank (NASDAQ:RCBC) last issued its quarterly earnings data on Friday, October 23rd. The company reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29. The business had revenue of $40.50 million for the quarter, compared to analysts’ expectations of $39.68 million. On average, research analysts anticipate that River City Bank will post 5.02 EPS for the current year.

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.