RBB Bancorp (NASDAQ:RBB) Lifted to C- at TheStreet

TheStreet upgraded shares of RBB Bancorp (NASDAQ:RBB) from a d+ rating to a c- rating in a report issued on Monday morning, TheStreetRatingsTable reports.

Several other brokerages have also recently commented on RBB. Zacks Investment Research cut RBB Bancorp from a buy rating to a sell rating in a report on Wednesday, May 1st. FIG Partners reiterated an outperform rating on shares of RBB Bancorp in a report on Friday, April 12th. Finally, Sandler O’Neill cut RBB Bancorp from a buy rating to a hold rating and decreased their price target for the company from $21.00 to $20.50 in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $26.50.

Shares of NASDAQ:RBB opened at $19.47 on Monday. The company has a fifty day moving average of $19.38. RBB Bancorp has a fifty-two week low of $17.03 and a fifty-two week high of $33.39. The company has a market capitalization of $395.58 million, a PE ratio of 9.14 and a beta of 1.12. The company has a quick ratio of 1.08, a current ratio of 1.25 and a debt-to-equity ratio of 1.01.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, April 22nd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The company had revenue of $30.11 million during the quarter, compared to the consensus estimate of $31.36 million. RBB Bancorp had a net margin of 28.46% and a return on equity of 11.28%. Equities research analysts forecast that RBB Bancorp will post 2.1 earnings per share for the current fiscal year.

In other RBB Bancorp news, Director James Kao purchased 10,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $188,000.00 per share, with a total value of $1,880,000,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.92% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its holdings in shares of RBB Bancorp by 561.9% during 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 in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of RBB Bancorp by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,745 shares of the company’s stock worth $83,000 after buying an additional 3,706 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of RBB Bancorp by 87.4% during 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 in the last quarter. Rhumbline Advisers grew its holdings in shares of RBB Bancorp by 47.6% during the fourth quarter. Rhumbline Advisers now owns 19,009 shares of the company’s stock worth $334,000 after buying an additional 6,132 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of RBB Bancorp during the fourth quarter worth about $354,000. 29.97% of the stock is currently owned by 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 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.

Further Reading: Capital Gains

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