RBB Bancorp (NASDAQ:RBB) Cut to “Sell” at BidaskClub

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RBB Bancorp (NASDAQ:RBB) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, BidAskClub reports.

A number of other brokerages have also recently weighed in on RBB. FIG Partners reiterated an “outperform” rating on shares of RBB Bancorp in a research report on Friday, April 12th. Sandler O’Neill cut shares of BankUnited from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of Twilio from a “d” rating to a “c” rating in a research report on Monday, June 24th. Finally, Zacks Investment Research upgraded shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. RBB Bancorp has an average rating of “Hold” and an average price target of $26.50.

Shares of RBB opened at $19.16 on Tuesday. RBB Bancorp has a 1-year low of $17.03 and a 1-year high of $32.85. The firm has a market capitalization of $389.64 million, a PE ratio of 9.00 and a beta of 1.09. The company’s 50-day moving average is $19.31. The company has a current ratio of 1.25, a quick ratio of 1.08 and a debt-to-equity ratio of 1.01.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, April 22nd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). RBB Bancorp had a net margin of 28.46% and a return on equity of 11.28%. The company had revenue of $30.11 million for the quarter, compared to analyst estimates of $31.36 million. Equities analysts forecast that RBB Bancorp will post 2.1 earnings per share for the current year.

In related news, Director James Kao purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $188,000.00 per share, for a total transaction of $1,880,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.92% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of RBB Bancorp by 5.3% in the fourth quarter. BlackRock Inc. now owns 731,627 shares of the company’s stock valued at $12,855,000 after purchasing an additional 36,703 shares during the period. Context BH Capital Management LP lifted its stake in RBB Bancorp by 2.7% in the first quarter. Context BH Capital Management LP now owns 288,321 shares of the company’s stock worth $5,420,000 after acquiring an additional 7,650 shares during the last quarter. Northern Trust Corp lifted its stake in RBB Bancorp by 4.5% in the fourth quarter. Northern Trust Corp now owns 155,950 shares of the company’s stock worth $2,740,000 after acquiring an additional 6,729 shares during the last quarter. Boston Partners lifted its stake in RBB Bancorp by 3.5% in the first quarter. Boston Partners now owns 127,867 shares of the company’s stock worth $2,404,000 after acquiring an additional 4,344 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in RBB Bancorp by 17.1% in the fourth quarter. Geode Capital Management LLC now owns 122,667 shares of the company’s stock worth $2,155,000 after acquiring an additional 17,882 shares during the last quarter. 29.98% of the stock is owned by institutional investors and hedge funds.

About RBB Bancorp

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.

Read More: Do equity income investments outperform growth and income investments?

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