RBB Bancorp (NASDAQ:RBB) Rating Reiterated by Keefe, Bruyette & Woods

RBB Bancorp (NASDAQ:RBB)‘s stock had its “market perform” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research note issued on Thursday, Benzinga reports. They currently have a $22.00 price objective on the stock, up from their prior price objective of $20.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 19.05% from the company’s previous close.

Several other brokerages also recently commented on RBB. Stephens reiterated an “equal weight” rating and set a $20.00 price target on shares of RBB Bancorp in a report on Tuesday. TheStreet upgraded shares of RBB Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, December 27th. Finally, Hovde Group initiated coverage on shares of RBB Bancorp in a report on Monday. They set a “market perform” rating and a $19.00 price target on the stock. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.50.

RBB Bancorp Price Performance

Shares of NASDAQ RBB traded down $0.02 during mid-day trading on Thursday, hitting $18.48. 11,641 shares of the company’s stock traded hands, compared to its average volume of 40,723. The company’s 50-day moving average is $17.42 and its two-hundred day moving average is $16.62. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $344.13 million, a P/E ratio of 8.04 and a beta of 0.96. RBB Bancorp has a 1 year low of $8.62 and a 1 year high of $20.22.

RBB Bancorp (NASDAQ:RBB) last announced its earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. The firm had revenue of $58.17 million for the quarter, compared to analysts’ expectations of $27.40 million. RBB Bancorp had a net margin of 17.69% and a return on equity of 7.74%. During the same period in the prior year, the company earned $0.58 EPS. On average, equities analysts anticipate that RBB Bancorp will post 1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James Kao bought 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $67,800.00. Following the purchase, the director now directly owns 505,376 shares of the company’s stock, valued at $8,566,123.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have purchased 35,977 shares of company stock worth $624,060 in the last three months. Corporate insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Several hedge funds have recently modified their holdings of RBB. Allspring Global Investments Holdings LLC lifted its position in RBB Bancorp by 36.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock valued at $44,000 after acquiring an additional 929 shares during the last quarter. AJOVista LLC purchased a new stake in RBB Bancorp during the fourth quarter valued at approximately $59,000. Quadrature Capital Ltd purchased a new stake in RBB Bancorp during the third quarter valued at approximately $138,000. New York State Common Retirement Fund raised its holdings in shares of RBB Bancorp by 101.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after buying an additional 4,503 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of RBB Bancorp in the fourth quarter worth $177,000. Hedge funds and other institutional investors own 40.14% 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, Korean-American, and other Asian-American communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.