Is RBB Bancorp overvalued or undervalued?

As of 16 January 2024, RBB Bancorp's valuation grade has moved from very attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued at this time. Key ratios include a P/E ratio of 14, a Price to Book Value of 0.59, and an EV to EBITDA of 13.94.
In comparison to its peers, RBB Bancorp's P/E ratio is slightly higher than that of ACNB Corp. at 12.72 and Bridgewater Bancshares, Inc. at 11.78, both of which are also rated fair. Notably, RBB Bancorp has underperformed the S&P 500 year-to-date with a return of -17.52% compared to the index's 2.44%, which may reflect broader market sentiment impacting its valuation.