Short Interest in RBB Bancorp (NASDAQ:RBB) Drops By 38.0%

RBB Bancorp (NASDAQ:RBB) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totaling 113,739 shares, a decline of 38.0% from the December 15th total of 183,356 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 51,161 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily volume of 51,161 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.7% of the shares of the stock are short sold.

RBB Bancorp Price Performance

RBB traded down $0.30 on Friday, reaching $21.56. The stock had a trading volume of 47,681 shares, compared to its average volume of 43,284. RBB Bancorp has a fifty-two week low of $14.40 and a fifty-two week high of $22.58. The firm has a 50-day moving average of $20.73 and a 200-day moving average of $19.57. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $367.60 million, a price-to-earnings ratio of 14.47 and a beta of 1.08.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, October 20th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.18. RBB Bancorp had a return on equity of 5.10% and a net margin of 11.12%.The firm had revenue of $32.57 million for the quarter, compared to analyst estimates of $31.72 million. During the same period last year, the firm posted $0.39 earnings per share. As a group, sell-side analysts anticipate that RBB Bancorp will post 1.63 EPS for the current year.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Friday, October 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, October 31st. RBB Bancorp’s dividend payout ratio is 42.95%.

Hedge Funds Weigh In On RBB Bancorp

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in RBB Bancorp by 84.9% in the second quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock valued at $31,000 after purchasing an additional 835 shares during the period. PNC Financial Services Group Inc. grew its position in shares of RBB Bancorp by 235.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,105 shares of the company’s stock valued at $53,000 after buying an additional 2,178 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of RBB Bancorp in the 4th quarter valued at about $112,000. CWM LLC increased its stake in shares of RBB Bancorp by 95.8% in the third quarter. CWM LLC now owns 5,942 shares of the company’s stock valued at $111,000 after buying an additional 2,908 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of RBB Bancorp by 17.9% during the third quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock worth $124,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 40.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RBB. Wall Street Zen raised shares of RBB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Piper Sandler lifted their price objective on shares of RBB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of RBB Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, October 22nd. Zacks Research cut RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RBB Bancorp in a research note on Friday, October 31st. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, RBB Bancorp has a consensus rating of “Hold” and a consensus target price of $22.33.

About RBB Bancorp

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.