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. “
Several other brokerages have also issued reports on RBB. TheStreet upgraded RBB Bancorp from a d+ rating to a c- rating in a research report on Monday, June 24th. BidaskClub upgraded RBB Bancorp from a sell rating to a hold rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $26.50.
RBB Bancorp stock opened at $20.26 on Friday. The firm has a market capitalization of $405.02 million, a P/E ratio of 9.51 and a beta of 1.13. RBB Bancorp has a 1 year low of $17.03 and a 1 year high of $30.28. The business has a 50-day moving average of $18.76 and a 200-day moving average of $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.
RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 analyst estimates of $32.60 million. Research analysts anticipate that RBB Bancorp will post 1.92 EPS for the current fiscal year.
In other RBB Bancorp news, Director Peter M. Chang acquired 115,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $2,300,000.00. 23.92% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of RBB. BlackRock Inc. grew its position in shares of RBB Bancorp by 20.8% in the 2nd quarter. BlackRock Inc. now owns 886,491 shares of the company’s stock valued at $17,144,000 after purchasing an additional 152,855 shares during the period. Vanguard Group Inc. grew its position in shares of RBB Bancorp by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 661,013 shares of the company’s stock valued at $12,784,000 after purchasing an additional 27,042 shares during the period. Context BH Capital Management LP boosted its position in RBB Bancorp by 2.7% during the 1st 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 boosted its position in RBB Bancorp by 4.7% during the 2nd quarter. Northern Trust Corp now owns 161,925 shares of the company’s stock worth $3,132,000 after acquiring an additional 7,271 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in RBB Bancorp by 34.7% during the 2nd quarter. Acadian Asset Management LLC now owns 18,681 shares of the company’s stock worth $361,000 after acquiring an additional 4,812 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.
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.
Recommended Story: Forex
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for RBB Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBB Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.