Zacks: Brokerages Set $27.50 Price Target for RBB Bancorp (RBB)

RBB Bancorp (NASDAQ:RBB) has received a consensus broker rating score of 1.50 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company.

Brokers have set a 1-year consensus target price of $27.50 for the company, according to Zacks. Zacks has also assigned RBB Bancorp an industry rank of 15 out of 265 based on the ratings given to related companies.

RBB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $30.00 price target on shares of RBB Bancorp in a research report on Friday, December 22nd. Zacks Investment Research raised shares of RBB Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Friday, November 17th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners boosted its holdings in RBB Bancorp by 3.0% in the 4th quarter. Boston Partners now owns 150,568 shares of the company’s stock valued at $4,121,000 after purchasing an additional 4,351 shares during the period. Chicago Equity Partners LLC purchased a new stake in RBB Bancorp during the fourth quarter worth about $245,000. Strs Ohio increased its holdings in RBB Bancorp by 772.7% during the fourth quarter. Strs Ohio now owns 9,600 shares of the company’s stock worth $262,000 after buying an additional 8,500 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in RBB Bancorp during the fourth quarter worth about $203,000. Finally, Maltese Capital Management LLC purchased a new stake in RBB Bancorp during the third quarter worth about $8,591,000. 23.90% of the stock is owned by hedge funds and other institutional investors.

RBB Bancorp (NASDAQ:RBB) traded up $0.14 during midday trading on Friday, hitting $26.89. 24,624 shares of the stock traded hands, compared to its average volume of 29,906. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.12 and a quick ratio of 1.03. RBB Bancorp has a 12 month low of $21.26 and a 12 month high of $27.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, January 30th.

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About RBB Bancorp

RBB Bancorp (the Bank) is a bank holding company with the principal business to serve as the holding company for its wholly-owned banking subsidiaries, including Royal Business Bank (Bank) and RBB Asset Management Company (RAM). The Company operates Royal Business Bank, which is a California state-chartered commercial bank.

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