RBB Bancorp (RBB) Given Average Recommendation of “Strong Buy” by Brokerages
Shares of RBB Bancorp (NASDAQ:RBB) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation. RBB Bancorp’s rating score has improved by 33.3% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a 1-year consensus price target of $36.00 for the company, according to Zacks. Zacks has also given RBB Bancorp an industry rank of 86 out of 255 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered shares of RBB Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th.
RBB Bancorp (NASDAQ:RBB) last announced its earnings results on Monday, July 23rd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. RBB Bancorp had a net margin of 31.31% and a return on equity of 11.69%. The business had revenue of $20.62 million for the quarter. Equities research analysts anticipate that RBB Bancorp will post 2.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Friday, September 28th were paid a $0.09 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 1.53%. RBB Bancorp’s dividend payout ratio is presently 19.78%.
Several large investors have recently modified their holdings of RBB. BlackRock Inc. boosted its stake in shares of RBB Bancorp by 83.4% in the 2nd quarter. BlackRock Inc. now owns 673,469 shares of the company’s stock valued at $21,631,000 after purchasing an additional 306,159 shares in the last quarter. Polaris Capital Management LLC bought a new stake in RBB Bancorp in the second quarter worth approximately $4,077,000. Schwab Charles Investment Management Inc. increased its holdings in RBB Bancorp by 448.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 71,269 shares of the company’s stock worth $2,290,000 after purchasing an additional 58,269 shares in the last quarter. Northern Trust Corp increased its holdings in RBB Bancorp by 76.6% in the second quarter. Northern Trust Corp now owns 129,030 shares of the company’s stock worth $4,145,000 after purchasing an additional 55,947 shares in the last quarter. Finally, Spark Investment Management LLC increased its holdings in RBB Bancorp by 540.5% in the second quarter. Spark Investment Management LLC now owns 50,600 shares of the company’s stock worth $1,625,000 after purchasing an additional 42,700 shares in the last quarter. Institutional investors own 33.83% of the company’s stock.
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; and certificates of deposits. 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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