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

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

Other equities research analysts have also issued reports about the company. Stephens lifted their price target on RBB Bancorp from $26.00 to $29.00 and gave the company a “positive” rating in a report on Thursday. Weiss Ratings raised shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Finally, Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $29.00 in a research note on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, RBB Bancorp currently has an average rating of “Moderate Buy” and an average target price of $25.50.

RBB Bancorp Trading Down 0.3%

Shares of NASDAQ RBB opened at $26.28 on Thursday. RBB Bancorp has a 12 month low of $16.74 and a 12 month high of $28.24. The company has a market cap of $445.08 million, a price-to-earnings ratio of 10.81 and a beta of 1.03. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $25.53 and a 200-day simple moving average of $23.25.

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, beating analysts’ consensus estimates of $0.54 by $0.05. RBB Bancorp had a net margin of 17.26% and a return on equity of 7.99%. The business had revenue of $33.10 million for the quarter, compared to analyst estimates of $33.17 million. Sell-side analysts predict that RBB Bancorp will post 2.37 EPS for the current year.

RBB Bancorp announced that its Board of Directors has authorized a stock repurchase plan on Monday, June 15th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director David Richard Morris sold 4,500 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.90, for a total value of $107,550.00. Following the sale, the director owned 43,422 shares of the company’s stock, valued at $1,037,785.80. The trade was a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gary Fan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $24.04, for a total value of $144,240.00. Following the completion of the transaction, the executive vice president directly owned 1,437 shares of the company’s stock, valued at approximately $34,545.48. The trade was a 80.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,814 shares of company stock valued at $597,630 in the last three months. Company insiders own 6.78% of the company’s stock.

Hedge Funds Weigh In On RBB Bancorp

A number of institutional investors have recently modified their holdings of RBB. Dimensional Fund Advisors LP grew its holdings in RBB Bancorp by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 830,214 shares of the company’s stock worth $17,742,000 after acquiring an additional 16,695 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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. Rhino Investment Partners Inc boosted its position in shares of RBB Bancorp by 9.4% in the 1st quarter. Rhino Investment Partners Inc now owns 338,810 shares of the company’s stock worth $7,240,000 after purchasing an additional 29,070 shares during the last quarter. State Street Corp boosted its position in shares of RBB Bancorp by 0.5% in the 4th quarter. State Street Corp now owns 320,706 shares of the company’s stock worth $6,619,000 after purchasing an additional 1,550 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in shares of RBB Bancorp by 48.2% during the first quarter. Hillsdale Investment Management Inc. now owns 221,400 shares of the company’s stock worth $4,731,000 after purchasing an additional 72,000 shares during the period. 40.14% of the stock is owned by institutional investors.

About RBB Bancorp

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.