RBB Bancorp (NASDAQ:RBB) Price Target Raised to $29.00

RBB Bancorp (NASDAQ:RBB) had its target price boosted by Stephens from $28.00 to $29.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of RBB Bancorp from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Wednesday. Zacks Research downgraded shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of RBB Bancorp in a research report on Monday, October 19th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, RBB Bancorp presently has a consensus rating of “Hold” and an average price target of $29.33.

RBB Bancorp Trading Down 0.3%

Shares of RBB opened at $26.44 on Thursday. The company’s fifty day moving average is $26.35 and its 200 day moving average is $25.51. RBB Bancorp has a fifty-two week low of $18.20 and a fifty-two week high of $28.24. The stock has a market capitalization of $447.36 million, a PE ratio of 10.25 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.07 and a current ratio of 1.07.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, October 19th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.58 by $0.16. RBB Bancorp had a net margin of 18.02% and a return on equity of 8.35%. The business had revenue of $36.87 million during the quarter, compared to analyst estimates of $34.43 million. Sell-side analysts expect that RBB Bancorp will post 2.44 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Friday, October 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, October 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.4%. RBB Bancorp’s dividend payout ratio (DPR) is presently 24.81%.

Institutional Investors Weigh In On RBB Bancorp

Several large investors have recently added to or reduced their stakes in RBB. State of Alaska Department of Revenue increased its position in shares of RBB Bancorp by 82.2% during the third quarter. State of Alaska Department of Revenue now owns 1,527 shares of the company’s stock worth $38,000 after acquiring an additional 689 shares during the period. Legal & General Group Plc bought a new stake in shares of RBB Bancorp during the second quarter valued at approximately $46,000. PNC Financial Services Group Inc. boosted its holdings in shares of RBB Bancorp by 10.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,781 shares of the company’s stock valued at $145,000 after purchasing an additional 636 shares during the period. AXQ Capital LP purchased a new stake in shares of RBB Bancorp in the second quarter valued at approximately $238,000. Finally, Ieq Capital LLC purchased a new stake in shares of RBB Bancorp in the second quarter valued at approximately $246,000. 40.14% of the stock is owned by hedge funds and other institutional investors.

About RBB Bancorp

RBB Bancorp is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Royal Business Bank, provides banking services to businesses, professionals and individuals, with an emphasis on serving small and middle-market companies and communities that are often connected to Asian-American and immigrant-owned businesses.

Royal Business Bank offers commercial and industrial loans, commercial real estate financing, small business and Small Business Administration lending, residential mortgage loans, construction financing and consumer loans.