Zacks Investment Research upgraded shares of RBB Bancorp (NASDAQ:RBB) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $15.00 price objective on the stock.
According to Zacks, “RBB Bancorp is a bank holding company with the principal business to serve as the holding company for its wholly-owned banking subsidiaries, including Royal Business Bank and RBB Asset Management Company. The Bank offers personal and commercial banking, real estate loans, and investment services, as well as deposits, debit and credit cards, cash management and other related services. It operates primarily in Los Angeles, San Gabriel, Torrance, Rowland Heights, Westlake Village, Oxnard, Monterey Park, Diamond Bar, Cerritos, West LA, Arcadia, Silverlake, California and Las Vegas, Nevada. RBB Bancorp is headquartered in Los Angeles, California. “
Several other equities analysts have also recently commented on RBB. Janney Montgomery Scott cut shares of RBB Bancorp from a buy rating to a neutral rating and set a $13.00 target price for the company. in a research note on Thursday, April 23rd. Piper Sandler assumed coverage on shares of RBB Bancorp in a research note on Thursday, June 18th. They set a hold rating and a $14.00 target price for the company. BidaskClub upgraded shares of RBB Bancorp from a strong sell rating to a sell rating in a research note on Wednesday, August 12th. Finally, TheStreet upgraded shares of RBB Bancorp from a d rating to a c rating in a research note on Monday, July 27th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $15.75.
NASDAQ RBB opened at $13.15 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $13.08 and a 200 day simple moving average of $14.15. The company has a market cap of $253.85 million, a P/E ratio of 8.38 and a beta of 0.90. RBB Bancorp has a 1 year low of $10.61 and a 1 year high of $21.90.
RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.06. The business had revenue of $27.24 million during the quarter, compared to the consensus estimate of $27.40 million. RBB Bancorp had a net margin of 21.00% and a return on equity of 8.05%. Equities research analysts forecast that RBB Bancorp will post 1.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Friday, July 31st. RBB Bancorp’s dividend payout ratio is 12.31%.
In other RBB Bancorp news, Director James Kao acquired 2,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $13.08 per share, for a total transaction of $26,160.00. Following the purchase, the director now owns 408,876 shares in the company, valued at approximately $5,348,098.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 20.66% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its position in shares of RBB Bancorp by 41.5% in the 1st quarter. Citigroup Inc. now owns 4,644 shares of the company’s stock valued at $64,000 after acquiring an additional 1,361 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of RBB Bancorp by 28.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,018 shares of the company’s stock valued at $69,000 after purchasing an additional 1,121 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of RBB Bancorp by 30.8% in the first quarter. Denali Advisors LLC now owns 8,520 shares of the company’s stock valued at $117,000 after purchasing an additional 2,004 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of RBB Bancorp in the second quarter valued at $119,000. Finally, SG Americas Securities LLC bought a new position in shares of RBB Bancorp in the second quarter valued at $129,000. 31.74% of the stock is currently owned by institutional investors and hedge funds.
RBB Bancorp Company Profile
RBB Bancorp operates as the bank holding company for Royal Business Bank that provides various banking products and services to the Chinese-American communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.
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