Keefe, Bruyette & Woods Lowers RBB Bancorp (NASDAQ:RBB) Price Target to $22.00

RBB Bancorp (NASDAQ:RBB) had its price target reduced by Keefe, Bruyette & Woods from $26.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 18.73% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Piper Sandler reduced their price target on RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday. Stephens dropped their price target on shares of RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday.

RBB Bancorp Stock Down 2.2 %

Shares of RBB Bancorp stock traded down $0.41 during midday trading on Friday, hitting $18.53. The company’s stock had a trading volume of 5,045 shares, compared to its average volume of 50,589. The stock has a 50-day simple moving average of $20.92 and a 200-day simple moving average of $22.19. The firm has a market capitalization of $327.85 million, a P/E ratio of 10.02 and a beta of 0.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. RBB Bancorp has a 1-year low of $16.54 and a 1-year high of $25.30.

RBB Bancorp (NASDAQ:RBB) last released its earnings results on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.94% and a net margin of 14.50%. As a group, sell-side analysts expect that RBB Bancorp will post 1.59 earnings per share for the current year.

Insider Activity at RBB Bancorp

In other RBB Bancorp news, CEO David Richard Morris sold 9,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $24.89, for a total transaction of $224,010.00. Following the sale, the chief executive officer now directly owns 37,722 shares of the company’s stock, valued at approximately $938,900.58. This represents a 19.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gary Fan sold 12,000 shares of RBB Bancorp stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $23.45, for a total transaction of $281,400.00. The disclosure for this sale can be found here. 6.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RBB Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in RBB. State Street Corp raised its stake in shares of RBB Bancorp by 3.8% during the third quarter. State Street Corp now owns 323,727 shares of the company’s stock worth $7,452,000 after buying an additional 11,809 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of RBB Bancorp by 5.0% in the 4th quarter. Empowered Funds LLC now owns 55,760 shares of the company’s stock valued at $1,143,000 after purchasing an additional 2,662 shares during the period. Zacks Investment Management acquired a new position in RBB Bancorp in the third quarter valued at about $1,208,000. JPMorgan Chase & Co. boosted its holdings in RBB Bancorp by 572.2% during the third quarter. JPMorgan Chase & Co. now owns 50,264 shares of the company’s stock worth $1,157,000 after buying an additional 42,786 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of RBB Bancorp by 50.9% in the 3rd quarter. Jane Street Group LLC now owns 27,582 shares of the company’s stock valued at $635,000 after acquiring an additional 9,305 shares during the last quarter. 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.