Keefe, Bruyette & Woods Issues Positive Forecast for RBB Bancorp (NASDAQ:RBB) Stock Price

Key Points

• Keefe, Bruyette & Woods raised its price target for RBB Bancorp from $29 to $30 while maintaining a “market perform” rating, implying approximately 15.45% upside.
• RBB Bancorp reported quarterly earnings of $0.74 per share, beating the $0.58 consensus estimate, while revenue of $36.87 million also exceeded expectations.
• Shares recently traded at $25.99, down 0.6%, and analyst sentiment remains positive overall with a “Moderate Buy” consensus rating and an average target price of $27.25.

RBB Bancorp (NASDAQ:RBB - Get Free Report) had its target price lifted by analysts at Keefe, Bruyette & Woods from $29.00 to $30.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 15.45% from the stock's current price.

RBB has been the subject of a number of other research reports. Zacks Research lowered RBB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Stephens lifted their target price on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a "positive" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of RBB Bancorp in a report on Monday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, RBB Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

RBB Bancorp Trading Down 0.6%

Shares of NASDAQ RBB traded down $0.14 during midday trading on Wednesday, reaching $25.99. The company had a trading volume of 30,342 shares, compared to its average volume of 113,445. RBB Bancorp has a one year low of $18.20 and a one year high of $28.24. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.55. The firm's fifty day moving average price is $26.41 and its 200-day moving average price is $25.44. The stock has a market cap of $439.58 million, a PE ratio of 10.09 and a beta of 1.04.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its earnings results on Monday, October 19th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.16. RBB Bancorp had a return on equity of 8.35% and a net margin of 18.02%. The company had revenue of $36.87 million during the quarter, compared to analysts' expectations of $34.43 million. On average, equities research analysts anticipate that RBB Bancorp will post 2.42 earnings per share for the current year.

Institutional Investors Weigh In On RBB Bancorp

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in RBB Bancorp in the second quarter worth about $35,424,000. Dimensional Fund Advisors LP raised its position in shares of RBB Bancorp by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 830,214 shares of the company's stock worth $17,742,000 after acquiring an additional 16,695 shares in the last quarter. Rhino Investment Partners Inc raised its position in shares of RBB Bancorp by 9.4% in the 1st quarter. Rhino Investment Partners Inc now owns 338,810 shares of the company's stock worth $7,240,000 after acquiring an additional 29,070 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of RBB Bancorp by 48.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 221,400 shares of the company's stock valued at $4,731,000 after purchasing an additional 72,000 shares during the period. Finally, Algert Global LLC purchased a new position in shares of RBB Bancorp in the 2nd quarter valued at approximately $4,283,000. 40.14% of the stock is currently owned by institutional investors.

RBB Bancorp Company Profile

RBB Bancorp is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Royal Business Bank, provides commercial banking and financial services to businesses, professionals and individuals, with a focus on serving small and mid-sized companies and the communities in which they operate.

Royal Business Bank offers business and consumer deposit accounts, certificates of deposit, cash-management services, online banking and other treasury-management solutions.

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