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

RBB Bancorp (NASDAQ:RBB - Get Free Report) had its price target reduced by research analysts at Piper Sandler from $23.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target suggests a potential upside of 7.70% from the company's current price.

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

RBB Bancorp Price Performance

NASDAQ RBB traded down $0.37 during trading on Wednesday, hitting $18.57. 35,096 shares of the stock traded hands, compared to its average volume of 53,336. The company has a market capitalization of $328.50 million, a P/E ratio of 12.72 and a beta of 0.97. RBB Bancorp has a 12-month low of $16.54 and a 12-month high of $25.30. The firm has a 50-day simple moving average of $20.81 and a 200-day simple moving average of $22.16. 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 (NASDAQ:RBB - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.21% and a net margin of 11.49%. As a group, analysts predict that RBB Bancorp will post 1.62 EPS for the current year.

Insider Transactions at RBB Bancorp

In related news, EVP Gary Fan sold 12,000 shares of the business's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $23.45, for a total transaction of $281,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Richard Morris sold 9,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total value of $224,010.00. Following the completion of the sale, the chief executive officer now owns 37,722 shares in the company, valued at approximately $938,900.58. The trade was a 19.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.63% of the company's stock.

Hedge Funds Weigh In On RBB Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of RBB Bancorp during the fourth quarter valued at approximately $29,000. BNP Paribas Financial Markets raised 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 valued at $86,000 after purchasing an additional 444 shares in the last quarter. SG Americas Securities LLC bought a new stake in RBB Bancorp during the 3rd quarter valued at $134,000. AQR Capital Management LLC purchased a new stake in shares of RBB Bancorp in the 2nd quarter worth $244,000. Finally, Franklin Resources Inc. bought a new position in shares of RBB Bancorp during the 3rd quarter worth $252,000. 40.14% of the stock is currently owned by institutional investors.

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.