RBB Bancorp (NASDAQ:RBB) Downgraded by Zacks Investment Research

RBB Bancorp (NASDAQ:RBB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “RBB Bancorp 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 and RBB Asset Management Company. The Bank offers personal and commercial banking, real estate loans, and investment services, as well as deposits, debit and credit cards, cash management and other related services. It operates primarily in Los Angeles, San Gabriel, Torrance, Rowland Heights, Westlake Village, Oxnard, Monterey Park, Diamond Bar, Cerritos, West LA, Arcadia, Silverlake, California and Las Vegas, Nevada. RBB Bancorp is headquartered in Los Angeles, California. “

RBB opened at $26.01 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.74. RBB Bancorp has a 52-week low of $16.05 and a 52-week high of $27.47. The stock has a market capitalization of $507.61 million, a PE ratio of 9.89 and a beta of 0.92. The company’s 50 day simple moving average is $25.61.

RBB Bancorp (NASDAQ:RBB) last posted its earnings results on Sunday, October 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. RBB Bancorp had a return on equity of 11.88% and a net margin of 31.81%. The firm had revenue of $37.10 million for the quarter, compared to analysts’ expectations of $34.85 million. During the same period in the previous year, the firm earned $0.43 earnings per share. As a group, analysts forecast that RBB Bancorp will post 2.73 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its holdings in RBB Bancorp by 156.8% in the third quarter. Citigroup Inc. now owns 1,782 shares of the company’s stock worth $45,000 after acquiring an additional 1,088 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in RBB Bancorp by 95.9% in the third quarter. BNP Paribas Arbitrage SA now owns 3,662 shares of the company’s stock worth $92,000 after acquiring an additional 1,793 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in shares of RBB Bancorp by 92,783.3% during the second quarter. Metropolitan Life Insurance Co NY now owns 5,573 shares of the company’s stock valued at $135,000 after purchasing an additional 5,567 shares in the last quarter. Barclays PLC lifted its holdings in shares of RBB Bancorp by 96.7% during the third quarter. Barclays PLC now owns 5,911 shares of the company’s stock valued at $149,000 after purchasing an additional 2,906 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of RBB Bancorp during the third quarter valued at $235,000. 36.55% of the stock is currently owned by institutional investors and hedge funds.

RBB Bancorp Company Profile

RBB Bancorp operates as a bank holding company. The firm engages in the provision of full service commercial bank. Its services include remote deposit, e-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance and a full range of depository accounts.

Further Reading: Why are percentage decliners important?

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