River city finance the forward EPS estimate for River City

The forward EPS estimate for River City Finance has been adjusted up to $1.92 for FY2024, driven by higher-than-expected net fee income and cost discipline. Local developer Weston Urban turned the upper floors of the Continental Hotel building along Commerce Street downtown into 28 extended-stay rentals and is nearly finished building about 290 apartments behind the historic property. It is also adding retail and office space at the Continental. Like SAFE, River City Bank has gotten a head start on the issue, running a Junior Achievement program that brings financial literacy classes into local Title 1 schools, a federal program that provides financial support to schools with a high number of low-income students. Some classes are tailored to children as young as kindergarteners. Wall Street consensus rates River City Finance as a “Moderate Buy” with an average 12-month target price of $21.10, implying 12.7% upside from current levels.