Hovde Group Initiates Coverage on RBB Bancorp (NASDAQ:RBB)

Stock analysts at Hovde Group initiated coverage on shares of RBB Bancorp (NASDAQ:RBB) in a report released on Monday, StockNewsAPI reports. The firm set a “market perform” rating and a $19.00 price target on the stock. Hovde Group’s target price points to a potential upside of 4.11% from the company’s previous close.

A number of other research analysts also recently weighed in on RBB. Keefe, Bruyette & Woods increased their price target on RBB Bancorp from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. TheStreet raised RBB Bancorp from a “c+” rating to a “b-” rating in a research note on Wednesday, December 27th. Finally, Stephens reissued an “equal weight” rating and issued a $19.00 price target on shares of RBB Bancorp in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

RBB Bancorp Stock Down 0.1 %

Shares of RBB opened at $18.25 on Monday. The firm has a market capitalization of $339.82 million, a price-to-earnings ratio of 7.55 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day moving average price is $17.40 and its two-hundred day moving average price is $16.58. RBB Bancorp has a 52 week low of $8.62 and a 52 week high of $20.22.

RBB Bancorp (NASDAQ:RBB) last posted 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. The company had revenue of $58.17 million for the quarter, compared to the consensus estimate of $27.40 million. RBB Bancorp had a return on equity of 8.36% and a net margin of 19.06%. During the same quarter in the prior year, the business posted $0.58 EPS. On average, analysts predict that RBB Bancorp will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James Kao bought 2,000 shares of the stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $16.98 per share, for a total transaction of $33,960.00. Following the acquisition, the director now owns 510,376 shares in the company, valued at $8,666,184.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 35,977 shares of company stock valued at $624,060. 6.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On RBB Bancorp

A number of large investors have recently added to or reduced their stakes in RBB. Allspring Global Investments Holdings LLC grew its holdings in shares of RBB Bancorp by 36.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock valued at $44,000 after acquiring an additional 929 shares in the last quarter. AJOVista LLC bought a new position in shares of RBB Bancorp in the 4th quarter valued at about $59,000. Quadrature Capital Ltd bought a new position in shares of RBB Bancorp in the 3rd quarter valued at about $138,000. New York State Common Retirement Fund grew its holdings in RBB Bancorp by 101.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after purchasing an additional 4,503 shares during the period. Finally, SG Americas Securities LLC bought a new position in RBB Bancorp during the fourth quarter worth about $177,000. Institutional investors 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.