RBB Bancorp (NASDAQ:RBB) Upgraded at Zacks Research

Zacks Research upgraded shares of RBB Bancorp (NASDAQ:RBB) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on RBB. Weiss Ratings reiterated a “hold (c+)” rating on shares of RBB Bancorp in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of RBB Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler increased their price target on shares of RBB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised their target price on shares of RBB Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.33.

RBB Bancorp Stock Performance

NASDAQ RBB opened at $19.40 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $334.65 million, a price-to-earnings ratio of 13.02 and a beta of 1.07. The firm’s 50 day simple moving average is $19.09 and its 200 day simple moving average is $17.81. RBB Bancorp has a 1 year low of $14.40 and a 1 year high of $25.30.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, October 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.18. The business had revenue of $31.95 million for the quarter, compared to analyst estimates of $31.72 million. RBB Bancorp had a net margin of 11.12% and a return on equity of 5.11%. During the same quarter last year, the business posted $0.39 EPS. As a group, research analysts expect that RBB Bancorp will post 1.63 earnings per share for the current fiscal year.

RBB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Friday, October 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. RBB Bancorp’s dividend payout ratio is currently 42.95%.

Hedge Funds Weigh In On RBB Bancorp

Several large investors have recently modified their holdings of the business. First Trust Advisors LP raised its stake in shares of RBB Bancorp by 5.0% during the second quarter. First Trust Advisors LP now owns 11,647 shares of the company’s stock valued at $200,000 after acquiring an additional 555 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of RBB Bancorp by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock valued at $31,000 after acquiring an additional 835 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of RBB Bancorp by 235.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,105 shares of the company’s stock valued at $53,000 after acquiring an additional 2,178 shares during the last quarter. Royal Bank of Canada raised its stake in shares of RBB Bancorp by 20.4% during the first quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock valued at $268,000 after acquiring an additional 2,762 shares during the last quarter. Finally, CWM LLC raised its stake in shares of RBB Bancorp by 95.8% during the third quarter. CWM LLC now owns 5,942 shares of the company’s stock valued at $111,000 after acquiring an additional 2,908 shares during the last quarter. Institutional investors own 40.14% 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, Korean-American, and other Asian-American communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.