RBB Bancorp (NASDAQ:RBB) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of RBB Bancorp (NASDAQ:RBB) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks.com reports.

Several other equities analysts also recently weighed in on RBB. Hovde Group raised shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $26.00 to $29.00 in a report on Tuesday, June 16th. Stephens raised their price objective on shares of RBB Bancorp from $26.00 to $29.00 and gave the company a “positive” rating in a research report on Thursday. Finally, Weiss Ratings upgraded shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

RBB Bancorp Stock Down 0.3%

NASDAQ RBB opened at $26.28 on Thursday. The stock’s 50-day moving average price is $25.53 and its 200-day moving average price is $23.25. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.50. RBB Bancorp has a 52 week low of $16.74 and a 52 week high of $28.24. The company has a market capitalization of $445.08 million, a P/E ratio of 10.81 and a beta of 1.03.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $33.10 million during the quarter, compared to the consensus estimate of $33.17 million. RBB Bancorp had a return on equity of 7.99% and a net margin of 17.26%. On average, equities research analysts predict that RBB Bancorp will post 2.37 earnings per share for the current year.

RBB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Friday, July 31st will be given a dividend of $0.16 per share. The ex-dividend date is Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. RBB Bancorp’s dividend payout ratio is currently 26.34%.

RBB Bancorp declared that its board has authorized a stock buyback plan on Monday, June 15th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at RBB Bancorp

In other RBB Bancorp news, EVP Gary Fan sold 2,368 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.01, for a total value of $56,855.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Chuang I. Lin sold 10,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $24.23, for a total transaction of $242,300.00. Following the completion of the sale, the director owned 51,347 shares in the company, valued at approximately $1,244,137.81. The trade was a 16.30% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 24,814 shares of company stock worth $597,630. Insiders own 6.78% of the company’s stock.

Hedge Funds Weigh In On RBB Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in RBB Bancorp in the 4th quarter worth approximately $3,084,000. Azora Capital LP purchased a new stake in shares of RBB Bancorp during the 4th quarter worth approximately $638,000. GSA Capital Partners LLP boosted its position in shares of RBB Bancorp by 224.7% during the 4th quarter. GSA Capital Partners LLP now owns 39,576 shares of the company’s stock valued at $817,000 after acquiring an additional 27,386 shares during the last quarter. Sei Investments Co. purchased a new position in shares of RBB Bancorp in the first quarter valued at $356,000. Finally, Quantinno Capital Management LP increased its position in RBB Bancorp by 47.9% in the first quarter. Quantinno Capital Management LP now owns 66,144 shares of the company’s stock worth $1,413,000 after purchasing an additional 21,434 shares during the last quarter. 40.14% of the stock is owned by institutional investors.

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.