Zacks Investment Research upgraded shares of RBB Bancorp (NASDAQ:RBB) from a sell rating to a hold rating in a report released on Wednesday.
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 equities research analysts have also issued reports about the stock. ValuEngine lowered shares of RBB Bancorp from a hold rating to a sell rating in a research note on Monday, February 4th. TheStreet lowered shares of RBB Bancorp from a c- rating to a d+ rating in a research note on Friday, November 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $34.67.
Shares of NASDAQ:RBB traded up $0.53 during midday trading on Wednesday, reaching $22.18. 33,893 shares of the company were exchanged, compared to its average volume of 27,782. RBB Bancorp has a fifty-two week low of $17.03 and a fifty-two week high of $33.62. The company has a quick ratio of 0.99, a current ratio of 1.23 and a debt-to-equity ratio of 0.89. The firm has a market cap of $415.44 million, a price-to-earnings ratio of 10.84 and a beta of 1.17.
RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings data on Monday, January 28th. The company reported $0.47 EPS for the quarter. RBB Bancorp had a net margin of 31.77% and a return on equity of 12.70%. The business had revenue of $31.07 million for the quarter. Research analysts expect that RBB Bancorp will post 2.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Monday, February 4th were paid a $0.10 dividend. This is a positive change from RBB Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, February 1st. RBB Bancorp’s payout ratio is presently 18.78%.
Several institutional investors have recently added to or reduced their stakes in the company. Cox Capital Mgt LLC increased its stake in shares of RBB Bancorp by 9.7% during the 4th quarter. Cox Capital Mgt LLC now owns 11,805 shares of the company’s stock worth $215,000 after purchasing an additional 1,047 shares during the last quarter. Boston Partners increased its stake in shares of RBB Bancorp by 1.8% during the 4th quarter. Boston Partners now owns 123,523 shares of the company’s stock worth $2,170,000 after purchasing an additional 2,242 shares during the last quarter. Bank of America Corp DE increased its stake in shares of RBB Bancorp by 276.4% during the 2nd quarter. Bank of America Corp DE now owns 3,222 shares of the company’s stock worth $104,000 after purchasing an additional 2,366 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of RBB Bancorp by 356.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,745 shares of the company’s stock worth $83,000 after purchasing an additional 3,706 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of RBB Bancorp by 9.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,569 shares of the company’s stock worth $1,435,000 after purchasing an additional 4,861 shares during the last quarter. Institutional investors own 28.45% 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; and certificates of deposits. 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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