RBB Bancorp (NASDAQ:RBB) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of RBB Bancorp (NASDAQ:RBB) from a hold rating to a buy rating in a report issued on Wednesday morning, BidAskClub reports.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded RBB Bancorp from a sell rating to a hold rating in a report on Saturday, September 14th. TheStreet upgraded RBB Bancorp from a d+ rating to a c- rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $25.13.

Shares of NASDAQ:RBB opened at $19.61 on Wednesday. The business’s 50 day simple moving average is $18.76 and its two-hundred day simple moving average is $19.32. The firm has a market cap of $407.83 million, a P/E ratio of 10.24 and a beta of 1.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.03 and a current ratio of 1.14. RBB Bancorp has a 52-week low of $17.03 and a 52-week high of $28.95.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, July 22nd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.07). The firm had revenue of $29.81 million during the quarter, compared to the consensus estimate of $32.60 million. RBB Bancorp had a return on equity of 10.64% and a net margin of 25.83%. On average, equities analysts forecast that RBB Bancorp will post 1.92 earnings per share for the current fiscal year.

In related news, Director Peter M. Chang bought 115,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price of $20.00 per share, for a total transaction of $2,300,000.00. 23.92% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of RBB Bancorp by 27,600.0% in the second quarter. Bank of Montreal Can now owns 1,385 shares of the company’s stock valued at $27,000 after purchasing an additional 1,380 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of RBB Bancorp by 435.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,554 shares of the company’s stock valued at $30,000 after purchasing an additional 1,264 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of RBB Bancorp by 561.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,886 shares of the company’s stock valued at $54,000 after purchasing an additional 2,450 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of RBB Bancorp by 31.6% in the second quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock valued at $89,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of RBB Bancorp by 87.4% in the fourth quarter. Bank of America Corp DE now owns 9,647 shares of the company’s stock valued at $170,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors own 30.99% 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 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.

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