Piper Sandler Issues Pessimistic Forecast for RBB Bancorp (NASDAQ:RBB) Stock Price

RBB Bancorp (NASDAQ:RBB) had its price target cut by investment analysts at Piper Sandler from $23.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 6.41% from the stock’s previous close.

Separately, Stephens lowered their price objective on shares of RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday.

RBB Bancorp Price Performance

NASDAQ RBB traded up $0.25 on Wednesday, reaching $18.80. The company had a trading volume of 10,287 shares, compared to its average volume of 51,813. The stock has a market capitalization of $332.50 million, a PE ratio of 10.16 and a beta of 0.97. The firm’s 50 day moving average price is $21.12 and its 200 day moving average price is $22.23. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. RBB Bancorp has a 12 month low of $16.49 and a 12 month high of $25.30.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. As a group, equities analysts predict that RBB Bancorp will post 1.59 earnings per share for the current year.

Insider Activity at RBB Bancorp

In other RBB Bancorp news, CEO David Richard Morris sold 9,000 shares of RBB Bancorp stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $24.89, for a total transaction of $224,010.00. Following the completion of the sale, the chief executive officer now owns 37,722 shares of the company’s stock, valued at approximately $938,900.58. The trade was a 19.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gary Fan sold 12,000 shares of the 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.

Hedge Funds Weigh In On RBB Bancorp

A number of large investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of RBB Bancorp during the fourth quarter worth approximately $29,000. BNP Paribas Financial Markets increased its position in RBB Bancorp by 13.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock worth $86,000 after buying an additional 444 shares during the period. SG Americas Securities LLC acquired a new stake in shares of RBB Bancorp during the third quarter worth $134,000. Franklin Resources Inc. bought a new stake in shares of RBB Bancorp in the third quarter valued at about $252,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of RBB Bancorp during the 3rd quarter worth approximately $295,000. 40.14% of the stock is currently owned by institutional investors and hedge funds.

About RBB Bancorp

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.