RBB Bancorp (NASDAQ:RBB) Rating Lowered to Hold at Zacks Research

RBB Bancorp (NASDAQ:RBB) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently weighed in on RBB. Hovde Group raised shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $26.00 to $29.00 in a research note on Tuesday, June 16th. Weiss Ratings raised shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Finally, Stephens raised their target price on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a “positive” rating in a research report on Thursday. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, RBB Bancorp has an average rating of “Moderate Buy” and a consensus target price of $25.50.

RBB Bancorp Stock Down 0.3%

RBB Bancorp stock opened at $26.28 on Thursday. The stock’s 50 day moving average price is $25.53 and its 200 day moving average price is $23.25. RBB Bancorp has a 1-year low of $16.74 and a 1-year high of $28.24. The company has a market cap of $445.08 million, a PE ratio of 10.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.06 and a quick ratio of 1.06.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $33.17 million. RBB Bancorp had a return on equity of 7.99% and a net margin of 17.26%. On average, sell-side analysts predict that RBB Bancorp will post 2.37 EPS for the current fiscal year.

RBB Bancorp declared that its board has approved a stock buyback plan on Monday, June 15th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at RBB Bancorp

In other news, Director Chuang I. Lin sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $24.23, for a total value of $242,300.00. Following the transaction, the director owned 51,347 shares of the company’s stock, valued at approximately $1,244,137.81. This trade represents a 16.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gary Fan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $24.04, for a total transaction of $144,240.00. Following the completion of the transaction, the executive vice president directly owned 1,437 shares in the company, valued at approximately $34,545.48. This represents a 80.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,814 shares of company stock valued at $597,630 over the last ninety days. Corporate insiders own 6.78% of the company’s stock.

Institutional Trading of RBB Bancorp

Several large investors have recently added to or reduced their stakes in RBB. Royal Bank of Canada raised its position in 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. Empowered Funds LLC boosted its position in shares of RBB Bancorp by 8.2% in the first quarter. Empowered Funds LLC now owns 60,331 shares of the company’s stock worth $995,000 after buying an additional 4,571 shares during the period. Jane Street Group LLC grew its stake in shares of RBB Bancorp by 75.9% in the first quarter. Jane Street Group LLC now owns 28,823 shares of the company’s stock valued at $476,000 after buying an additional 12,437 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RBB Bancorp by 4.2% in the second quarter. Geode Capital Management LLC now owns 362,884 shares of the company’s stock valued at $6,246,000 after buying an additional 14,751 shares in the last quarter. Finally, First Trust Advisors LP grew its position in RBB Bancorp by 5.0% in 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 in the last quarter. 40.14% of the stock is currently owned by institutional investors and hedge funds.

RBB Bancorp Company Profile

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.