Keefe, Bruyette & Woods Issues Pessimistic Forecast for RBB Bancorp (NASDAQ:RBB) Stock Price

RBB Bancorp (NASDAQ:RBB) had its price target reduced by Keefe, Bruyette & Woods from $26.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts have also recently issued reports on RBB. Stephens dropped their target price on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler cut their price objective on shares of RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday.

RBB Bancorp Stock Performance

NASDAQ:RBB opened at $18.57 on Friday. The company has a market cap of $328.56 million, a P/E ratio of 10.04 and a beta of 0.97. RBB Bancorp has a twelve month low of $16.54 and a twelve month high of $25.30. The company’s 50-day moving average price is $20.92 and its 200-day moving average price is $22.19. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66.

RBB Bancorp (NASDAQ:RBB) last released its earnings results on Monday, February 3rd. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.94% and a net margin of 14.50%. On average, sell-side analysts forecast that RBB Bancorp will post 1.59 earnings per share for the current fiscal year.

RBB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, January 31st. RBB Bancorp’s payout ratio is 43.84%.

Insider Buying and Selling at RBB Bancorp

In related news, CEO David Richard Morris sold 9,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total value of $224,010.00. Following the sale, the chief executive officer now owns 37,722 shares in the company, valued at approximately $938,900.58. The trade was a 19.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gary Fan sold 12,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $23.45, for a total value of $281,400.00. The disclosure for this sale can be found here. 6.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RBB Bancorp

Several large investors have recently added to or reduced their stakes in the business. Zacks Investment Management purchased a new position in RBB Bancorp in the 3rd quarter valued at approximately $1,208,000. JPMorgan Chase & Co. boosted its holdings in RBB Bancorp by 572.2% in the third quarter. JPMorgan Chase & Co. now owns 50,264 shares of the company’s stock valued at $1,157,000 after purchasing an additional 42,786 shares during the period. Barclays PLC boosted its holdings in RBB Bancorp by 285.6% in the third quarter. Barclays PLC now owns 21,477 shares of the company’s stock valued at $495,000 after purchasing an additional 15,907 shares during the period. AQR Capital Management LLC acquired a new position in RBB Bancorp during the 2nd quarter worth $244,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in RBB Bancorp during the 3rd quarter worth about $295,000. 40.14% of the stock is owned by hedge funds and other 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, Korean-American, and other Asian-American communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.