RBB Bancorp (NASDAQ:RBB) Lifted to “Buy” at BidaskClub

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BidaskClub upgraded shares of RBB Bancorp (NASDAQ:RBB) from a hold rating to a buy rating in a research note released on Wednesday morning, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. TheStreet raised RBB Bancorp from a d+ rating to a c- rating in a research note on Monday, June 24th. Zacks Investment Research raised RBB Bancorp from a sell rating to a hold rating in a research note on Saturday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $25.13.

Shares of RBB stock opened at $19.61 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $18.76 and a two-hundred day moving average price of $19.32. RBB Bancorp has a 12-month low of $17.03 and a 12-month high of $28.95. The firm has a market cap of $407.83 million, a P/E ratio of 10.24 and a beta of 1.12.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, July 22nd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.07). RBB Bancorp had a return on equity of 10.64% and a net margin of 25.83%. The firm had revenue of $29.81 million for the quarter, compared to the consensus estimate of $32.60 million. As a group, research analysts expect that RBB Bancorp will post 1.92 EPS for the current fiscal year.

In related news, Director Peter M. Chang acquired 115,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $2,300,000.00. 23.92% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBB. Bank of Montreal Can increased its holdings in shares of RBB Bancorp by 27,600.0% in the second quarter. Bank of Montreal Can now owns 1,385 shares of the company’s stock worth $27,000 after buying an additional 1,380 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of RBB Bancorp by 435.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,554 shares of the company’s stock worth $30,000 after buying an additional 1,264 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of RBB Bancorp by 561.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,886 shares of the company’s stock worth $54,000 after buying an additional 2,450 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of RBB Bancorp by 31.6% in the second quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock worth $89,000 after buying an additional 1,071 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of RBB Bancorp by 87.4% in the fourth quarter. Bank of America Corp DE now owns 9,647 shares of the company’s stock worth $170,000 after buying an additional 4,500 shares during the period. Hedge funds and other institutional investors own 30.99% of the company’s stock.

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 communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.

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