FVCBankcorp's Q4 net income rises 15%, deposits up 7%

Overview

• U.S. bank's Q4 net income rose 15% yr/yr to $5.6 mln

• Net interest margin improved to 3.05% from 2.91%, eighth consecutive quarterly increase

• Total deposits grew 7% yr/yr to $2.00 bln

Outlook

• Company did not provide specific financial guidance for future periods

Result Drivers

• NET INTEREST MARGIN - Improved to 3.05% for the eighth consecutive quarter, contributing to higher net interest income

• LOAN AND DEPOSIT GROWTH - Total loans increased by 4% and deposits by 7%, aiding revenue growth

• CREDIT QUALITY - Nonperforming loans decreased by 15%, indicating solid credit quality

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for FVCBankcorp Inc is $15.00, about 4.8% above its January 16 closing price of $14.31

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBw5m9gQza

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