RBB Bancorp (NASDAQ:RBB) Upgraded to “Buy” at Zacks Investment Research

RBB Bancorp (NASDAQ:RBB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, November 17th. The brokerage presently has a $27.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 3.97% from the company’s previous close.

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. “

A number of other equities analysts also recently issued reports on RBB. Keefe, Bruyette & Woods began coverage on RBB Bancorp in a research note on Monday, August 21st. They set an “outperform” rating and a $25.00 price target for the company. Sandler O’Neill began coverage on RBB Bancorp in a research note on Monday, August 21st. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Stephens began coverage on RBB Bancorp in a research note on Tuesday, August 29th. They issued an “overweight” rating on the stock.

RBB Bancorp (NASDAQ:RBB) traded up $0.71 during mid-day trading on Friday, hitting $25.97. The stock had a trading volume of 45,546 shares, compared to its average volume of 55,968. RBB Bancorp has a 1 year low of $21.26 and a 1 year high of $26.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.12 and a quick ratio of 1.03.

Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new stake in RBB Bancorp in the third quarter worth approximately $140,000. Harbor Advisors LLC purchased a new position in shares of RBB Bancorp during the 3rd quarter worth $229,000. Pillar Pacific Capital Management LLC purchased a new position in shares of RBB Bancorp during the 3rd quarter worth $357,000. Commonwealth Equity Services Inc purchased a new position in shares of RBB Bancorp during the 3rd quarter worth $369,000. Finally, Stifel Financial Corp purchased a new position in shares of RBB Bancorp during the 3rd quarter valued at $644,000. 23.80% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2017/12/04/zacks-investment-research-upgrades-rbb-bancorp-rbb-to-buy.html.

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.

Get a free copy of the Zacks research report on RBB Bancorp (RBB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for RBB Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBB Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply