RBB Bancorp (NASDAQ: RBB) was downgraded by equity analysts Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report on Wednesday, reports The Fly.
Several other analysts also commented on RBB. Zacks Investment Research downgraded shares of RBB Bancorp from a “buy” rating to a “hold” rating in a research report Thursday, Jan. 6. Hovde Group downgraded RBB Bancorp from an ‘outperforming’ rating to a ‘market performing’ rating and cut its price target for the stock from $35.00 to $30.00 in a research report Tuesday.
NASDAQ: RBB opened at $23.06 on Wednesday. RBB Bancorp has a one-year low of $18.67 and a one-year high of $29.08. The company has a debt ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.09. The company has a market capitalization of $450.04 million, a price-earnings ratio of 8.06 and a beta of 0.92. The company has a 50-day simple moving average of $26.29.
RBB Bancorp Inc (NASDAQ:RBB) last released quarterly earnings data on Monday, January 24. The company reported EPS of $0.79 for the quarter, beating the consensus estimate of $0.74 by $0.05. The company posted revenue of $36.38 million in the quarter, versus analyst estimates of $35.95 million. RBB Bancorp had a net margin of 34.32% and a return on equity of 12.80%. In the same quarter a year earlier, the company posted EPS of $0.56. Sell-side analysts expect RBB Bancorp to post 3 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently shifted their RBB holdings. FJ Capital Management LLC increased its stake in RBB Bancorp by 23.2% in Q3. FJ Capital Management LLC now owns 1,180,000 shares of the company worth $29,749,000 after acquiring an additional 222,000 shares during the period. Wedge Capital Management LLP NC acquired a new position in RBB Bancorp shares in Q3 valued at approximately $4,570,000. LSV Asset Management increased its stake in RBB Bancorp shares by 30.7% during the third quarter. LSV Asset Management now owns 375,076 shares of the company worth $9,455,000 after purchasing an additional 88,079 shares during the period. Comerica Bank acquired a new stake in RBB Bancorp during Q3 worth approximately $1,331,000. Finally, JPMorgan Chase & Co. increased its position in RBB Bancorp shares by 51.6% in the fourth quarter. JPMorgan Chase & Co. now owns 100,520 shares of the company worth $2,633,000 after acquiring 34,218 additional shares in the last quarter. 37.06% of the shares are currently held by hedge funds and other institutional investors.
About RBB Bancorp
RBB Bancorp operates as a bank holding company. The company is committed to providing a full-service commercial bank. Its services include remote deposit, online banking, mobile banking, commercial and investment real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, single-family residential loans for 1 to 4 people, trade finance and a full range of deposit accounts.
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