RBB Bancorp (NASDAQ:RBB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of RBB Bancorp (NASDAQ:RBB) from a sell rating to a hold rating in a research note released on Saturday, Zacks.com reports.

According to Zacks, “RBB Bancorp is a bank holding company with the principal business to serve as the holding company for its wholly-owned banking subsidiaries, including Royal Business Bank and RBB Asset Management Company. The Bank offers personal and commercial banking, real estate loans, and investment services, as well as deposits, debit and credit cards, cash management and other related services. It operates primarily in Los Angeles, San Gabriel, Torrance, Rowland Heights, Westlake Village, Oxnard, Monterey Park, Diamond Bar, Cerritos, West LA, Arcadia, Silverlake, California and Las Vegas, Nevada. RBB Bancorp is headquartered in Los Angeles, California. “

RBB has been the topic of a number of other research reports. TheStreet upgraded RBB Bancorp from a d+ rating to a c- rating in a research note on Monday, June 24th. BidaskClub upgraded RBB Bancorp from a sell rating to a hold rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $26.50.

RBB opened at $20.26 on Friday. RBB Bancorp has a 1-year low of $17.03 and a 1-year high of $30.28. The stock’s fifty day simple moving average is $18.76 and its 200 day simple moving average is $19.35. The company has a current ratio of 1.14, a quick ratio of 1.03 and a debt-to-equity ratio of 0.39. The stock has a market cap of $405.02 million, a PE ratio of 9.51 and a beta of 1.13.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.07). RBB Bancorp had a net margin of 25.83% and a return on equity of 10.64%. The business had revenue of $29.81 million during the quarter, compared to the consensus estimate of $32.60 million. Equities analysts forecast that RBB Bancorp will post 1.92 earnings per share for the current year.

In other news, Director Peter M. Chang acquired 115,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $20.00 per share, with a total value of $2,300,000.00. Corporate insiders own 23.92% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in RBB Bancorp by 87.4% in the 4th quarter. Bank of America Corp DE now owns 9,647 shares of the company’s stock valued at $170,000 after buying an additional 4,500 shares in the last quarter. Context BH Capital Management LP grew its holdings in RBB Bancorp by 2.7% in the 1st quarter. Context BH Capital Management LP now owns 288,321 shares of the company’s stock valued at $5,420,000 after buying an additional 7,650 shares in the last quarter. Acadian Asset Management LLC grew its holdings in RBB Bancorp by 34.7% in the 2nd quarter. Acadian Asset Management LLC now owns 18,681 shares of the company’s stock valued at $361,000 after buying an additional 4,812 shares in the last quarter. Cox Capital Mgt LLC grew its holdings in RBB Bancorp by 5.6% in the 2nd quarter. Cox Capital Mgt LLC now owns 12,598 shares of the company’s stock valued at $244,000 after buying an additional 672 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in RBB Bancorp by 561.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,886 shares of the company’s stock valued at $54,000 after buying an additional 2,450 shares in the last quarter. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

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, as well as certificates of deposit. 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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