Hovde Group Issues Positive Forecast for RBB Bancorp (NASDAQ:RBB) Stock Price

RBB Bancorp (NASDAQ:RBB) had its target price boosted by Hovde Group from $23.00 to $26.00 in a report published on Wednesday morning, MarketBeat reports. They currently have a market perform rating on the stock.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of RBB Bancorp in a research note on Wednesday, January 28th. Wall Street Zen downgraded RBB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, RBB Bancorp has an average rating of “Hold” and an average target price of $23.33.

RBB Bancorp Trading Down 0.2%

RBB opened at $24.13 on Wednesday. The firm has a market cap of $411.90 million, a price-to-earnings ratio of 10.22 and a beta of 1.04. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. RBB Bancorp has a 12 month low of $14.66 and a 12 month high of $24.73. The stock has a fifty day moving average price of $21.82 and a 200-day moving average price of $20.81.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Monday, April 20th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.45 by $0.21. The firm had revenue of $34.75 million during the quarter, compared to analyst estimates of $32.38 million. RBB Bancorp had a return on equity of 7.90% and a net margin of 16.76%. As a group, equities research analysts anticipate that RBB Bancorp will post 2.07 earnings per share for the current fiscal year.

RBB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, April 30th. RBB Bancorp’s payout ratio is 34.97%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBB. Royal Bank of Canada grew its stake in RBB Bancorp by 20.4% during the 1st quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock worth $268,000 after buying an additional 2,762 shares during the last quarter. Empowered Funds LLC grew its stake in RBB Bancorp by 8.2% during the 1st quarter. Empowered Funds LLC now owns 60,331 shares of the company’s stock valued at $995,000 after purchasing an additional 4,571 shares during the last quarter. Jane Street Group LLC grew its stake in RBB Bancorp by 75.9% during the 1st quarter. Jane Street Group LLC now owns 28,823 shares of the company’s stock valued at $476,000 after purchasing an additional 12,437 shares during the last quarter. Geode Capital Management LLC grew its stake in RBB Bancorp by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 362,884 shares of the company’s stock valued at $6,246,000 after purchasing an additional 14,751 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in RBB Bancorp by 5.0% during the 2nd quarter. First Trust Advisors LP now owns 11,647 shares of the company’s stock valued at $200,000 after purchasing an additional 555 shares during the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

About RBB Bancorp

RBB Bancorp is a bank holding company headquartered in Los Angeles, California, and the parent of Royal Business Bank. Established in 2008, the company focuses on providing a full range of commercial banking services tailored to small- and medium-sized businesses, professionals and real estate investors. Through its subsidiary, RBB Bancorp delivers deposit products, loan facilities and cash management solutions designed to support operations and growth strategies.

The company’s core offerings include commercial real estate lending, construction and land development loans, Small Business Administration (SBA) lending and trade finance.