RBB Bancorp (NASDAQ:RBB) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded RBB Bancorp from "hold" to strong-buy, but the MarketBeat consensus remains a Hold (one Strong Buy vs. four Holds) with a consensus price target of $23.33.
• RBB beat quarterly expectations, reporting $0.66 EPS vs. $0.45 expected and $34.75M revenue vs. $32.38M, and analysts project about $2.35 EPS for the current year.
• Shares are trading near their 12‑month high (opened at $24.32, 52‑week high $24.73) with a market cap of ~$415M and a P/E of ~10.3, reflecting recent strength and valuation levels.

RBB Bancorp (NASDAQ:RBB - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on RBB. Hovde Group upped their price target on RBB Bancorp from $23.00 to $26.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 22nd. Wall Street Zen cut RBB Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of RBB Bancorp in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, RBB Bancorp presently has a consensus rating of "Hold" and a consensus price target of $23.33.

RBB Bancorp Price Performance

Shares of NASDAQ RBB opened at $24.32 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. RBB Bancorp has a twelve month low of $14.66 and a twelve month high of $24.73. The stock has a 50 day moving average of $21.96 and a two-hundred day moving average of $21.00. The stock has a market cap of $415.14 million, a P/E ratio of 10.31 and a beta of 1.04.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its quarterly earnings data on Monday, April 20th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.21. RBB Bancorp had a return on equity of 7.90% and a net margin of 16.76%.The company had revenue of $34.75 million during the quarter, compared to analysts' expectations of $32.38 million. On average, research analysts forecast that RBB Bancorp will post 2.35 earnings per share for the current year.

Institutional Trading of RBB Bancorp

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in RBB Bancorp by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 813,519 shares of the company's stock valued at $16,791,000 after purchasing an additional 4,999 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 14,751 shares during the last quarter. State Street Corp grew its holdings in RBB Bancorp by 0.5% in the fourth quarter. State Street Corp now owns 320,706 shares of the company's stock valued at $6,619,000 after purchasing an additional 1,550 shares during the last quarter. Rhino Investment Partners Inc lifted its position in shares of RBB Bancorp by 3.4% in the third quarter. Rhino Investment Partners Inc now owns 253,190 shares of the company's stock valued at $4,750,000 after acquiring an additional 8,317 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of RBB Bancorp by 80.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 200,190 shares of the company's stock valued at $3,756,000 after acquiring an additional 89,035 shares in the last quarter. Institutional investors and hedge funds own 40.14% of the company's stock.

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.

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