RBB Bancorp (NASDAQ:RBB) Rating Reiterated by Hovde Group

RBB Bancorp (NASDAQ:RBB)‘s stock had its “market perform” rating reiterated by investment analysts at Hovde Group in a research report issued to clients and investors on Monday, MarketBeat.com reports. They currently have a $20.00 price objective on the stock. Hovde Group’s price objective suggests a potential downside of 7.83% from the stock’s previous close.

Several other research firms have also recently commented on RBB. Stephens reissued an “equal weight” rating and issued a $20.00 target price on shares of RBB Bancorp in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $22.00 target price (up from $20.00) on shares of RBB Bancorp in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, RBB Bancorp has a consensus rating of “Hold” and an average price target of $18.75.

RBB Bancorp Trading Up 4.9 %

RBB stock opened at $21.70 on Monday. The business has a fifty day moving average price of $18.36 and a 200 day moving average price of $17.93. RBB Bancorp has a fifty-two week low of $11.15 and a fifty-two week high of $21.71. The stock has a market capitalization of $400.15 million, a price-to-earnings ratio of 9.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.09 and a quick ratio of 1.08.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. RBB Bancorp had a return on equity of 7.71% and a net margin of 17.69%. The firm had revenue of $58.17 million during the quarter, compared to analysts’ expectations of $27.40 million. During the same period last year, the firm posted $0.58 EPS. Analysts expect that RBB Bancorp will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James Kao acquired 7,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of $17.08 per share, with a total value of $119,560.00. Following the completion of the purchase, the director now directly owns 548,511 shares in the company, valued at $9,368,567.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its position in shares of RBB Bancorp by 21.7% during the second quarter. CWM LLC now owns 4,594 shares of the company’s stock worth $86,000 after buying an additional 818 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in RBB Bancorp by 4.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 45,707 shares of the company’s stock worth $823,000 after acquiring an additional 2,105 shares during the last quarter. Quadrature Capital Ltd boosted its position in RBB Bancorp by 29.8% during the 1st quarter. Quadrature Capital Ltd now owns 16,884 shares of the company’s stock worth $304,000 after acquiring an additional 3,880 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of RBB Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 742,411 shares of the company’s stock worth $13,371,000 after acquiring an additional 4,464 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of RBB Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 46,818 shares of the company’s stock valued at $843,000 after purchasing an additional 3,500 shares during the last quarter. 40.14% of the stock is currently owned by institutional investors.

RBB Bancorp Company Profile

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.