RBB Bancorp (NASDAQ:RBB) Price Target Raised to $30.00

RBB Bancorp (NASDAQ:RBB) had its price target upped by Keefe, Bruyette & Woods from $29.00 to $30.00 in a report released on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other research analysts have also weighed in on RBB. Zacks Research lowered RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of RBB Bancorp in a research report on Monday. Finally, Stephens increased their target price on shares of RBB Bancorp from $26.00 to $29.00 and gave the company a “positive” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, RBB Bancorp currently has a consensus rating of “Hold” and a consensus price target of $29.33.

RBB Bancorp Price Performance

Shares of RBB Bancorp stock opened at $26.44 on Wednesday. The business has a 50 day simple moving average of $26.35 and a two-hundred day simple moving average of $25.51. RBB Bancorp has a 12 month low of $18.20 and a 12 month high of $28.24. The stock has a market capitalization of $447.36 million, a P/E ratio of 10.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.07 and a quick ratio of 1.07.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, October 19th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.16. RBB Bancorp had a return on equity of 8.35% and a net margin of 18.02%. The firm had revenue of $36.87 million for the quarter, compared to analyst estimates of $34.43 million. As a group, analysts predict that RBB Bancorp will post 2.44 EPS for the current fiscal year.

RBB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Friday, October 30th will be given a $0.16 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. RBB Bancorp’s dividend payout ratio is 24.81%.

Hedge Funds Weigh In On RBB Bancorp

A number of institutional investors have recently added to or reduced their stakes in RBB. PNC Financial Services Group Inc. grew its stake in shares of RBB Bancorp by 10.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,781 shares of the company’s stock valued at $145,000 after buying an additional 636 shares during the period. State of Alaska Department of Revenue lifted its holdings in RBB Bancorp by 82.2% in the third quarter. State of Alaska Department of Revenue now owns 1,527 shares of the company’s stock valued at $38,000 after acquiring an additional 689 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in RBB Bancorp by 1.1% in the second quarter. Squarepoint Ops LLC now owns 68,007 shares of the company’s stock valued at $1,864,000 after acquiring an additional 709 shares during the last quarter. Strs Ohio grew its position in RBB Bancorp by 4.6% in the first quarter. Strs Ohio now owns 27,400 shares of the company’s stock worth $586,000 after acquiring an additional 1,200 shares during the period. Finally, Legal & General Group Plc purchased a new position in RBB Bancorp in the second quarter worth approximately $46,000. 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. Its principal subsidiary, Royal Business Bank, provides banking services to businesses, professionals and individuals, with an emphasis on serving small and middle-market companies and communities that are often connected to Asian-American and immigrant-owned businesses.

Royal Business Bank offers commercial and industrial loans, commercial real estate financing, small business and Small Business Administration lending, residential mortgage loans, construction financing and consumer loans.