Keefe, Bruyette & Woods Reiterates Market Perform Rating for RBB Bancorp (NASDAQ:RBB)

RBB Bancorp (NASDAQ:RBB)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a research report issued on Thursday, Benzinga reports. They currently have a $22.00 price target on the stock, up from their previous price target of $20.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 21.85% from the stock’s current price.

Several other equities analysts also recently commented on RBB. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of RBB Bancorp in a research report on Tuesday. Hovde Group initiated coverage on RBB Bancorp in a report on Monday, April 22nd. They issued a “market perform” rating and a $19.00 target price for the company. Finally, TheStreet upgraded RBB Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, December 27th. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.50.

RBB Bancorp Stock Performance

Shares of RBB Bancorp stock opened at $18.06 on Thursday. The stock’s fifty day moving average is $17.43 and its two-hundred day moving average is $16.65. The company has a market capitalization of $336.18 million, a PE ratio of 7.92 and a beta of 0.96. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. RBB Bancorp has a 52 week low of $8.62 and a 52 week high of $20.22.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, beating the consensus estimate 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 7.74% and a net margin of 17.69%. During the same quarter in the prior year, the company posted $0.58 EPS. As a group, analysts expect that RBB Bancorp will post 1.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Kao acquired 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average cost of $18.05 per share, for a total transaction of $216,600.00. Following the purchase, the director now directly owns 460,376 shares of the company’s stock, valued at approximately $8,309,786.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders bought 35,977 shares of company stock worth $624,060. 6.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RBB Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC lifted its stake in shares of RBB Bancorp by 0.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 78,338 shares of the company’s stock worth $1,492,000 after purchasing an additional 641 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of RBB Bancorp by 36.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock worth $44,000 after purchasing an additional 929 shares during the last quarter. Quadrature Capital Ltd increased its position in RBB Bancorp by 20.3% during the 4th quarter. Quadrature Capital Ltd now owns 13,004 shares of the company’s stock valued at $248,000 after buying an additional 2,191 shares in the last quarter. AJOVista LLC purchased a new stake in RBB Bancorp in the fourth quarter valued at about $59,000. Finally, New York State Common Retirement Fund boosted its holdings in RBB Bancorp by 101.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after acquiring an additional 4,503 shares in the last quarter. 40.14% of the stock is currently owned by hedge funds and other 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.