Zacks: RBB Bancorp (RBB) Given Average Recommendation of “Buy” by Brokerages
Shares of RBB Bancorp (NASDAQ:RBB) have received a consensus broker rating score of 1.50 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a one year consensus price target of $27.50 for the company, according to Zacks. Zacks has also assigned RBB Bancorp an industry rank of 17 out of 265 based on the ratings given to its competitors.
Several analysts have issued reports on RBB shares. Zacks Investment Research raised RBB Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Friday, November 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $30.00 target price on shares of RBB Bancorp in a research report on Friday, December 22nd.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.32 annualized dividend and a yield of 1.20%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System bought a new stake in RBB Bancorp during the 3rd quarter valued at $140,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of RBB Bancorp in the 4th quarter worth $203,000. Chicago Equity Partners LLC acquired a new stake in shares of RBB Bancorp in the 4th quarter worth $245,000. Strs Ohio boosted its position in shares of RBB Bancorp by 772.7% in the 4th quarter. Strs Ohio now owns 9,600 shares of the company’s stock worth $262,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Harbor Advisors LLC acquired a new stake in shares of RBB Bancorp in the 3rd quarter worth $229,000. 23.75% of the stock is currently owned by institutional investors and hedge funds.
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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