Zacks Investment Research upgraded shares of RBB Bancorp (NASDAQ:RBB) from a hold rating to a buy rating in a research report sent to investors on Friday morning. Zacks Investment Research currently has $27.00 price objective on the stock.
According to Zacks, “RBB Bancorp is a bank holding company with the principal business to serve as the holding company for its wholly-owned banking subsidiaries, including Royal Business Bank and RBB Asset Management Company. The Bank offers personal and commercial banking, real estate loans, and investment services, as well as deposits, debit and credit cards, cash management and other related services. It operates primarily in Los Angeles, San Gabriel, Torrance, Rowland Heights, Westlake Village, Oxnard, Monterey Park, Diamond Bar, Cerritos, West LA, Arcadia, Silverlake, California and Las Vegas, Nevada. RBB Bancorp is headquartered in Los Angeles, California. “
Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods began coverage on RBB Bancorp in a research report on Monday, August 21st. They issued an outperform rating and a $25.00 target price on the stock. Sandler O’Neill began coverage on RBB Bancorp in a research report on Monday, August 21st. They issued a buy rating and a $25.00 target price on the stock. Finally, Stephens began coverage on RBB Bancorp in a research report on Tuesday, August 29th. They issued an overweight rating on the stock.
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The business also recently disclosed a special dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, October 30th.
Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System purchased a new position in shares of RBB Bancorp during the 3rd quarter valued at about $140,000. Harbor Advisors LLC bought a new stake in RBB Bancorp during the 3rd quarter valued at approximately $229,000. Pillar Pacific Capital Management LLC bought a new stake in RBB Bancorp during the 3rd quarter valued at approximately $357,000. Commonwealth Equity Services Inc bought a new stake in RBB Bancorp during the 3rd quarter valued at approximately $369,000. Finally, Stifel Financial Corp bought a new stake in RBB Bancorp during the 3rd quarter valued at approximately $644,000. 8.43% of the stock is currently owned by hedge funds and other institutional investors.
RBB Bancorp Company Profile
RBB Bancorp (the Bank) is a bank holding company with the principal business to serve as the holding company for its wholly-owned banking subsidiaries, including Royal Business Bank (Bank) and RBB Asset Management Company (RAM). The Company operates Royal Business Bank, which is a California state-chartered commercial bank.
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