RBB Bancorp (NASDAQ:RBB) Rating Lowered to “Hold” at Zacks Research

RBB Bancorp (NASDAQ:RBB) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler upped their price objective on shares of RBB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded RBB Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods boosted their price target on shares of RBB Bancorp from $21.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of RBB Bancorp in a report on Friday, October 31st. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.33.

RBB Bancorp Stock Down 0.8%

Shares of NASDAQ:RBB opened at $21.46 on Monday. The stock has a market cap of $365.89 million, a price-to-earnings ratio of 14.40 and a beta of 1.08. The business’s 50 day moving average is $19.86 and its 200 day moving average is $19.06. RBB Bancorp has a 12-month low of $14.40 and a 12-month high of $22.58. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings data on Monday, October 20th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.18. The business had revenue of $32.57 million for the quarter, compared to analysts’ expectations of $31.72 million. RBB Bancorp had a return on equity of 5.10% and a net margin of 11.12%.During the same period last year, the business earned $0.39 EPS. On average, sell-side analysts forecast that RBB Bancorp will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FJ Capital Management LLC lifted its holdings in shares of RBB Bancorp by 0.6% in the second quarter. FJ Capital Management LLC now owns 1,766,083 shares of the company’s stock worth $30,394,000 after buying an additional 10,077 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in RBB Bancorp by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 808,520 shares of the company’s stock worth $15,168,000 after acquiring an additional 22,509 shares during the period. American Century Companies Inc. lifted its stake in RBB Bancorp by 8.7% in the 1st quarter. American Century Companies Inc. now owns 373,405 shares of the company’s stock worth $6,161,000 after purchasing an additional 29,761 shares in the last quarter. Geode Capital Management LLC boosted its holdings in RBB Bancorp by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 362,884 shares of the company’s stock valued at $6,246,000 after purchasing an additional 14,751 shares during the period. Finally, Rhino Investment Partners Inc grew its position in shares of RBB Bancorp by 3.4% during the 3rd quarter. Rhino Investment Partners Inc now owns 253,190 shares of the company’s stock valued at $4,750,000 after purchasing an additional 8,317 shares in the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.

RBB Bancorp Company Profile

RBB Bancorp is a bank holding company headquartered in Los Angeles, California, and the parent of Royal Business Bank. Established in 2008, the company focuses on providing a full range of commercial banking services tailored to small- and medium-sized businesses, professionals and real estate investors. Through its subsidiary, RBB Bancorp delivers deposit products, loan facilities and cash management solutions designed to support operations and growth strategies.

The company’s core offerings include commercial real estate lending, construction and land development loans, Small Business Administration (SBA) lending and trade finance.