RBB Bancorp (NASDAQ:RBB) Stock Has Consensus Price Target of $25.50

RBB Bancorp (NASDAQ:RBB) has earned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $25.50.

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Hovde Group raised shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the company from $26.00 to $29.00 in a research note on Tuesday, June 16th. Weiss Ratings upgraded shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, Stephens increased their price objective on shares of RBB Bancorp from $26.00 to $29.00 and gave the company a “positive” rating in a report on Thursday, July 23rd.

RBB Bancorp Trading Up 0.5%

Shares of RBB stock opened at $26.58 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.07 and a current ratio of 1.07. RBB Bancorp has a 1 year low of $16.74 and a 1 year high of $28.24. The stock has a fifty day moving average of $26.64 and a two-hundred day moving average of $24.83. The firm has a market capitalization of $449.73 million, a PE ratio of 10.94 and a beta of 1.02.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. RBB Bancorp had a return on equity of 7.94% and a net margin of 17.26%.The company had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $33.17 million. As a group, research analysts expect that RBB Bancorp will post 2.39 EPS for the current year.

RBB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Friday, July 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 2.4%. RBB Bancorp’s payout ratio is presently 26.34%.

RBB Bancorp announced that its Board of Directors has approved a stock buyback program on Monday, June 15th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On RBB Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of RBB Bancorp during the 2nd quarter valued at $35,424,000. Algert Global LLC acquired a new stake in shares of RBB Bancorp in the second quarter valued at $4,283,000. Hillsdale Investment Management Inc. acquired a new stake in shares of RBB Bancorp in the fourth quarter valued at $3,084,000. Empowered Funds LLC bought a new position in RBB Bancorp during the second quarter valued at about $2,866,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in RBB Bancorp during the second quarter valued at about $2,832,000. 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. Through its principal subsidiary, Royal Business Bank, the company provides banking services to businesses, professionals, entrepreneurs and individuals, with a focus on serving small and mid-sized businesses and Asian-American communities.

Royal Business Bank offers commercial and industrial loans, commercial real estate financing, residential mortgage loans, Small Business Administration lending, construction loans and other credit products.