RBB Bancorp (NASDAQ:RBB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of RBB Bancorp (NASDAQ:RBB) have earned an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.3333.

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

Insider Activity at RBB Bancorp

In related news, Director Chuang I. Lin sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $24.23, for a total value of $242,300.00. Following the transaction, the director owned 51,347 shares in the company, valued at approximately $1,244,137.81. This represents a 16.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Richard Morris sold 4,500 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.90, for a total transaction of $107,550.00. Following the completion of the transaction, the director owned 43,422 shares in the company, valued at approximately $1,037,785.80. This trade represents a 9.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,814 shares of company stock worth $597,630. Insiders own 6.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its position in shares of RBB Bancorp by 5.0% during the 2nd quarter. First Trust Advisors LP now owns 11,647 shares of the company’s stock worth $200,000 after purchasing an additional 555 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of RBB Bancorp by 10.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,781 shares of the company’s stock worth $145,000 after purchasing an additional 636 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of RBB Bancorp by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock worth $31,000 after purchasing an additional 835 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of RBB Bancorp by 17.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock worth $124,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Barclays PLC grew its position in shares of RBB Bancorp by 4.4% during the 4th quarter. Barclays PLC now owns 25,157 shares of the company’s stock worth $519,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 40.14% of the company’s stock.

RBB Bancorp Trading Down 2.9%

RBB opened at $24.96 on Thursday. The stock has a market capitalization of $422.82 million, a P/E ratio of 10.58 and a beta of 1.05. RBB Bancorp has a 12 month low of $15.94 and a 12 month high of $26.12. The firm’s fifty day simple moving average is $23.71 and its 200 day simple moving average is $22.23. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, April 20th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.45 by $0.21. RBB Bancorp had a net margin of 16.76% and a return on equity of 7.85%. The firm had revenue of $34.75 million for the quarter, compared to analysts’ expectations of $32.38 million. As a group, research analysts anticipate that RBB Bancorp will post 2.35 EPS for the current fiscal year.

RBB Bancorp declared that its Board of Directors has approved a share buyback plan on Monday, June 15th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

RBB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a $0.16 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.6%. RBB Bancorp’s dividend payout ratio is 27.12%.

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.