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C&F Financial Q3 profit rises on loan growth

By Reuters News


Overview

  • US regional bank's Q3 net income rose 16% yr/yr on higher loan growth and margins

  • EPS for Q3 rose to $2.55 from $2.18 yr/yr

  • Company opened a loan production office in Lynchburg, Virginia during Q3


Outlook

  • Company did not provide specific financial guidance for future quarters or the full year in the press release


Result Drivers

  • LOAN GROWTH - Co said higher average balances of loans, especially in commercial real estate and land acquisition, contributed to increased net income

  • NET INTEREST MARGIN - Co said stronger net interest margin, driven by higher yields on loans and securities, supported results

  • MARKET EXPANSION - Co said expansion into Lynchburg, Virginia with a new loan production office contributed to growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$8.26 mln

Q3 Basic EPS

Beat

$2.55

$2.46 (1 Analyst)


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

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

  • Wall Street's median 12-month price target for C&F Financial Corp is $115.00, about 7.1% above its October 23 closing price of $107.33


Reuters Recommended Reads

  • Oct 26 - Business First Bancshares Q3 net income rises on loan and deposit growth

  • Oct 26 - Bank of Marin Bancorp Q3 profit beats estimates on higher loan yields

  • Oct 26 - Bank of Hawaii Q3 net income rises on higher net interest income


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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