RBB Bancorp (NASDAQ:RBB) Stock Rating Upgraded by Wall Street Zen

Key Points

• RBB Bancorp was upgraded from a "sell" to a "hold" rating by Wall Street Zen in a recent research note.
• Keefe, Bruyette & Woods raised RBB Bancorp's target price from $19.00 to $21.00 and assigned a "market perform" rating.
• The company has authorized a share buyback plan worth $18 million, allowing it to repurchase approximately 6% of its shares, indicating confidence in its stock value.

RBB Bancorp (NASDAQ:RBB - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Separately, Keefe, Bruyette & Woods increased their target price on RBB Bancorp from $19.00 to $21.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd.

RBB Bancorp Trading Up 0.3%

RBB traded up $0.06 during trading on Friday, hitting $18.97. 14,169 shares of the stock were exchanged, compared to its average volume of 50,230. The firm has a 50 day simple moving average of $17.48 and a 200 day simple moving average of $17.28. The firm has a market cap of $336.44 million, a price-to-earnings ratio of 14.70 and a beta of 1.05. RBB Bancorp has a 1 year low of $14.40 and a 1 year high of $25.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.07.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.36 by $0.16. The company had revenue of $35.81 million for the quarter, compared to the consensus estimate of $29.60 million. RBB Bancorp had a return on equity of 4.52% and a net margin of 9.80%. As a group, equities analysts expect that RBB Bancorp will post 1.63 EPS for the current year.

RBB Bancorp announced that its board has authorized a share buyback program on Thursday, May 29th that allows the company to repurchase $18.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of RBB Bancorp

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of RBB Bancorp by 195.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the company's stock worth $36,000 after purchasing an additional 1,149 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of RBB Bancorp by 25.2% during the 4th quarter. Wells Fargo & Company MN now owns 9,564 shares of the company's stock valued at $196,000 after buying an additional 1,925 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of RBB Bancorp by 14.9% during the 4th quarter. MetLife Investment Management LLC now owns 10,315 shares of the company's stock valued at $211,000 after buying an additional 1,336 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of RBB Bancorp during the 4th quarter valued at about $215,000. Finally, Deutsche Bank AG raised its stake in shares of RBB Bancorp by 229.0% during the 4th quarter. Deutsche Bank AG now owns 15,860 shares of the company's stock valued at $325,000 after buying an additional 11,040 shares during the last quarter. Institutional investors and hedge funds 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.