RBB Bancorp (NASDAQ:RBB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of RBB Bancorp (NASDAQ:RBB) have been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $24.3333.

A number of brokerages have commented on RBB. Weiss Ratings upgraded RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Hovde Group upgraded RBB Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the company from $26.00 to $29.00 in a report on Tuesday, June 16th. Finally, Zacks Research raised RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th.

RBB Bancorp Stock Performance

NASDAQ:RBB opened at $27.13 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $459.58 million, a price-to-earnings ratio of 11.50 and a beta of 1.03. The firm’s fifty day simple moving average is $24.62 and its 200 day simple moving average is $22.68. RBB Bancorp has a twelve month low of $16.74 and a twelve month high of $28.20.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, April 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.21. RBB Bancorp had a return on equity of 7.85% and a net margin of 16.76%.The firm had revenue of $34.75 million during the quarter, compared to the consensus estimate of $32.38 million. As a group, equities research analysts expect that RBB Bancorp will post 2.36 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.64 annualized dividend and a yield of 2.4%. RBB Bancorp’s dividend payout ratio (DPR) is 27.12%.

RBB Bancorp announced that its board has initiated a share repurchase plan on Monday, June 15th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at RBB Bancorp

In other news, Director David Richard Morris sold 4,500 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $23.90, for a total transaction of $107,550.00. Following the transaction, the director directly owned 43,422 shares of the company’s stock, valued at approximately $1,037,785.80. The trade was a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Chuang I. Lin sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $24.23, for a total transaction of $242,300.00. Following the sale, the director directly owned 51,347 shares of the company’s stock, valued at approximately $1,244,137.81. The trade was a 16.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 24,814 shares of company stock valued at $597,630. Corporate insiders own 6.78% of the company’s stock.

Institutional Trading of RBB Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of RBB Bancorp by 20.4% in the first quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock worth $268,000 after acquiring an additional 2,762 shares in the last quarter. Empowered Funds LLC grew its stake in RBB Bancorp by 8.2% during the 1st quarter. Empowered Funds LLC now owns 60,331 shares of the company’s stock valued at $995,000 after purchasing an additional 4,571 shares in the last quarter. Jane Street Group LLC increased its holdings in RBB Bancorp by 75.9% during the 1st quarter. Jane Street Group LLC now owns 28,823 shares of the company’s stock worth $476,000 after purchasing an additional 12,437 shares during the last quarter. Geode Capital Management LLC increased its holdings in RBB Bancorp by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 362,884 shares of the company’s stock worth $6,246,000 after purchasing an additional 14,751 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of RBB Bancorp by 5.0% in the 2nd quarter. First Trust Advisors LP now owns 11,647 shares of the company’s stock valued at $200,000 after purchasing an additional 555 shares in the last quarter. 40.14% of the stock is owned by hedge funds and other institutional investors.

RBB Bancorp Company Profile

RBB Bancorp is a bank holding company headquartered in Los Angeles, California, and the parent of Royal Business Bank. Established in 2008, the company focuses on providing a full range of commercial banking services tailored to small- and medium-sized businesses, professionals and real estate investors. Through its subsidiary, RBB Bancorp delivers deposit products, loan facilities and cash management solutions designed to support operations and growth strategies.

The company’s core offerings include commercial real estate lending, construction and land development loans, Small Business Administration (SBA) lending and trade finance.