RBB Bancorp (NASDAQ:RBB) Releases Earnings Results, Beats Expectations By $0.10 EPS

RBB Bancorp (NASDAQ:RBB) issued its earnings results on Monday. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.10, Zacks reports. RBB Bancorp had a net margin of 11.12% and a return on equity of 5.10%.

RBB Bancorp Trading Up 0.7%

Shares of RBB stock traded up $0.15 during trading on Monday, hitting $21.57. 62,277 shares of the stock traded hands, compared to its average volume of 52,699. RBB Bancorp has a 52-week low of $14.40 and a 52-week high of $22.58. The firm has a market capitalization of $367.77 million, a P/E ratio of 14.48 and a beta of 1.08. The firm’s fifty day moving average price is $20.98 and its 200-day moving average price is $19.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05.

Institutional Investors Weigh In On RBB Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBB. BNP Paribas Financial Markets lifted its stake in RBB Bancorp by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock worth $31,000 after acquiring an additional 835 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in RBB Bancorp by 17.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock valued at $124,000 after acquiring an additional 1,000 shares in the last quarter. Russell Investments Group Ltd. increased its stake in RBB Bancorp by 850.8% during the third quarter. Russell Investments Group Ltd. now owns 10,012 shares of the company’s stock worth $188,000 after purchasing an additional 8,959 shares during the period. First Trust Advisors LP lifted its position 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 worth $200,000 after purchasing an additional 555 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of RBB Bancorp by 20.4% in the first quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock valued at $268,000 after purchasing an additional 2,762 shares during the period. Institutional investors and hedge funds own 40.14% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on RBB shares. Piper Sandler upped their price objective on shares of RBB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of RBB Bancorp in a report on Friday, October 31st. Keefe, Bruyette & Woods upped their price target on RBB Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. Zacks Research downgraded RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Wall Street Zen raised RBB Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RBB Bancorp has a consensus rating of “Hold” and an average target price of $22.33.

About RBB Bancorp

RBB Bancorp is a bank holding company headquartered in Los Angeles, California, and the parent of Royal Business Bank. Established in 2008, the company focuses on providing a full range of commercial banking services tailored to small- and medium-sized businesses, professionals and real estate investors. Through its subsidiary, RBB Bancorp delivers deposit products, loan facilities and cash management solutions designed to support operations and growth strategies.

The company’s core offerings include commercial real estate lending, construction and land development loans, Small Business Administration (SBA) lending and trade finance.