RBB Bancorp (NASDAQ:RBB) Cut to “Hold” at Zacks Research

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

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

RBB Bancorp Stock Down 0.3%

Shares of RBB Bancorp stock opened at $26.28 on Thursday. The company has a market capitalization of $445.08 million, a P/E ratio of 10.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50-day moving average of $25.53 and a two-hundred day moving average of $23.25. RBB Bancorp has a 1 year low of $16.74 and a 1 year high of $28.24.

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

RBB Bancorp announced that its Board of Directors has approved a share repurchase plan on Monday, June 15th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director David Richard Morris sold 4,500 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.90, for a total transaction of $107,550.00. Following the transaction, the director directly owned 43,422 shares in the company, valued at $1,037,785.80. The trade was a 9.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chuang I. Lin sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $24.23, for a total transaction of $242,300.00. Following the completion of the sale, the director directly owned 51,347 shares in the company, valued at approximately $1,244,137.81. The trade was a 16.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,814 shares of company stock valued at $597,630 in the last quarter. Company insiders own 6.78% of the company’s stock.

Institutional Trading of RBB Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhino Investment Partners Inc grew its position in shares of RBB Bancorp by 9.4% in the first quarter. Rhino Investment Partners Inc now owns 338,810 shares of the company’s stock valued at $7,240,000 after purchasing an additional 29,070 shares during the last quarter. Empowered Funds LLC lifted its holdings in RBB Bancorp by 23.5% during the 1st quarter. Empowered Funds LLC now owns 101,463 shares of the company’s stock worth $2,168,000 after purchasing an additional 19,279 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in RBB Bancorp by 47.9% during the 1st 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. North Reef Capital Management LP bought a new stake in RBB Bancorp in the 1st quarter valued at $1,371,000. Finally, Sei Investments Co. acquired a new position in RBB Bancorp in the 1st quarter valued at $356,000. 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, 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.