RBB Bancorp (NASDAQ:RBB) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of RBB Bancorp (NASDAQ:RBB) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

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. “

Other analysts have also recently issued reports about the stock. Piper Sandler assumed coverage on shares of RBB Bancorp in a research report on Thursday, June 18th. They set a hold rating and a $14.00 target price on the stock. TheStreet upgraded shares of RBB Bancorp from a d rating to a c rating in a research report on Monday, July 27th. Janney Montgomery Scott cut shares of RBB Bancorp from a buy rating to a neutral rating and set a $13.00 target price on the stock. in a research report on Thursday, April 23rd. Finally, BidaskClub cut shares of RBB Bancorp from a sell rating to a strong sell rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $15.75.

Shares of RBB traded up $0.07 during midday trading on Tuesday, hitting $13.33. 614 shares of the company traded hands, compared to its average volume of 59,272. The firm has a 50 day moving average of $13.08 and a 200-day moving average of $14.40. RBB Bancorp has a 52 week low of $10.61 and a 52 week high of $21.90. The stock has a market cap of $274.31 million, a price-to-earnings ratio of 8.66 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.13 and a current ratio of 1.15.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, July 27th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $27.24 million during the quarter, compared to the consensus estimate of $27.40 million. RBB Bancorp had a net margin of 21.00% and a return on equity of 8.10%. Sell-side analysts predict that RBB Bancorp will post 1.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, July 31st. RBB Bancorp’s dividend payout ratio (DPR) is currently 12.31%.

In related news, Director James Kao bought 2,000 shares of RBB Bancorp stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $12.54 per share, with a total value of $25,080.00. Following the completion of the transaction, the director now owns 406,876 shares in the company, valued at approximately $5,102,225.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 20.66% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in RBB Bancorp by 41.5% in the first quarter. Citigroup Inc. now owns 4,644 shares of the company’s stock valued at $64,000 after acquiring an additional 1,361 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in RBB Bancorp by 28.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,018 shares of the company’s stock valued at $69,000 after acquiring an additional 1,121 shares in the last quarter. Denali Advisors LLC lifted its stake in shares of RBB Bancorp by 30.8% during the first quarter. Denali Advisors LLC now owns 8,520 shares of the company’s stock worth $117,000 after buying an additional 2,004 shares during the period. SG Americas Securities LLC acquired a new stake in shares of RBB Bancorp during the second quarter worth $129,000. Finally, Piper Sandler & CO. acquired a new stake in shares of RBB Bancorp during the first quarter worth $148,000. Hedge funds and other institutional investors own 31.74% of the company’s stock.

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.

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