RBB Bancorp (NASDAQ:RBB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday. The firm presently has a $31.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 15.33% from the stock’s current price.
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. “
Separately, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $30.00 price target on shares of RBB Bancorp in a research report on Friday, December 22nd.
Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System bought a new stake in RBB Bancorp during the third quarter worth about $140,000. Harbor Advisors LLC bought a new stake in RBB Bancorp during the third quarter worth about $229,000. Pillar Pacific Capital Management LLC bought a new stake in RBB Bancorp during the third quarter worth about $357,000. Commonwealth Equity Services Inc bought a new stake in RBB Bancorp during the third quarter worth about $369,000. Finally, Stifel Financial Corp bought a new stake in RBB Bancorp during the third quarter worth about $644,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.
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About RBB Bancorp
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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