RBB Bancorp (NASDAQ:RBB) Price Target Cut to $22.00 by Analysts at Keefe, Bruyette & Woods

RBB Bancorp (NASDAQ:RBB) had its price target reduced by analysts at Keefe, Bruyette & Woods from $26.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 18.73% from the stock’s previous close.

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

RBB Bancorp Trading Down 2.2 %

RBB stock traded down $0.41 during trading on Friday, reaching $18.53. 5,045 shares of the stock were exchanged, compared to its average volume of 50,589. The business has a 50 day moving average price of $20.92 and a 200-day moving average price of $22.19. RBB Bancorp has a 1 year low of $16.54 and a 1 year high of $25.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $327.85 million, a price-to-earnings ratio of 10.02 and a beta of 0.97.

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 the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. On average, research analysts predict that RBB Bancorp will post 1.59 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of RBB Bancorp

Several large investors have recently modified their holdings of RBB. State Street Corp raised its holdings in RBB Bancorp by 3.8% in the third quarter. State Street Corp now owns 323,727 shares of the company’s stock valued at $7,452,000 after acquiring an additional 11,809 shares in the last quarter. Empowered Funds LLC lifted its position in shares of RBB Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 55,760 shares of the company’s stock worth $1,143,000 after purchasing an additional 2,662 shares during the last quarter. Zacks Investment Management acquired a new position in RBB Bancorp in the third quarter worth about $1,208,000. JPMorgan Chase & Co. lifted its holdings in RBB Bancorp by 572.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,264 shares of the company’s stock worth $1,157,000 after buying an additional 42,786 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of RBB Bancorp by 50.9% in the 3rd quarter. Jane Street Group LLC now owns 27,582 shares of the company’s stock worth $635,000 after acquiring an additional 9,305 shares in the last quarter. 40.14% of the stock is currently owned by institutional investors and hedge funds.

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.