RBB Bancorp (RBB) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of RBB Bancorp (NASDAQ:RBB) from a strong-buy rating to a hold rating in a report released on Wednesday morning.
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. “
Separately, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $30.00 price objective on shares of RBB Bancorp in a research note on Friday, December 22nd.
RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, January 22nd. The company reported $0.43 earnings per share (EPS) for the quarter. The business had revenue of $21.69 million during the quarter. equities research analysts predict that RBB Bancorp will post 2 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, January 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.23%. RBB Bancorp’s dividend payout ratio is 10.74%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC boosted its position in shares of RBB Bancorp by 49.7% during the fourth quarter. Teachers Advisors LLC now owns 6,576 shares of the company’s stock worth $180,000 after purchasing an additional 2,182 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of RBB Bancorp by 32.1% during the fourth quarter. Geode Capital Management LLC now owns 16,198 shares of the company’s stock worth $443,000 after purchasing an additional 3,933 shares in the last quarter. Deutsche Bank AG boosted its position in shares of RBB Bancorp by 97.9% during the fourth quarter. Deutsche Bank AG now owns 8,513 shares of the company’s stock worth $231,000 after purchasing an additional 4,212 shares in the last quarter. Boston Partners boosted its position in shares of RBB Bancorp by 3.0% during the fourth quarter. Boston Partners now owns 150,568 shares of the company’s stock worth $4,121,000 after purchasing an additional 4,351 shares in the last quarter. Finally, TIAA CREF Investment Management LLC bought a new position in shares of RBB Bancorp during the fourth quarter worth $162,000. 26.15% of the stock is currently owned by institutional investors.
About RBB Bancorp
RBB Bancorp (the Bank) 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 (Bank) and RBB Asset Management Company (RAM). The Company operates Royal Business Bank, which is a California state-chartered commercial bank.
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