River City Bank Beats Q3 Estimates With $1.29 EPS and Revenue Nearly 48% Above Consensus
RCBC sits 54% above its 52-week low of $35.76.
Summary
River City Bank posted Q3 adjusted EPS of $1.29 versus a $1.26 consensus, a modest beat, but revenue of $57.65 million blew past the $39.01 million analysts expected. GAAP EPS came in at $2.16 and net income was $30.61 million. The stock is trading near its 52-week high of $56.71 after gaining 8.4% this quarter and 26.5% year to date, so expectations were already elevated. This is the company's first quarterly report since its August IPO priced at $45.00, a 9.2% discount to its last OTC price. The revenue gap versus consensus is the number that matters here — it suggests the analyst models were built on stale pre-IPO assumptions. No analyst estimate revisions in the past 30 days, and the median price target of $55.50 sits essentially at the current price.
At the time of this announcement, RCBC was trading at $55.06 on OTC in the Finance sector, with a market capitalization of approximately $783.4M. The 52-week trading range was $35.76 to $56.71. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.