RBB Bancorp (NASDAQ:RBB) Announces $0.16 Quarterly Dividend

RBB Bancorp (NASDAQ:RBB) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Shareholders of record on Wednesday, May 1st will be paid a dividend of 0.16 per share on Monday, May 13th. This represents a $0.64 annualized dividend and a yield of 3.59%. The ex-dividend date is Tuesday, April 30th.

RBB Bancorp has raised its dividend payment by an average of 24.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. RBB Bancorp has a dividend payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RBB Bancorp to earn $1.72 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 37.2%.

RBB Bancorp Stock Performance

Shares of RBB Bancorp stock opened at $17.83 on Friday. RBB Bancorp has a 52 week low of $8.62 and a 52 week high of $20.22. The business’s fifty day simple moving average is $17.40 and its 200-day simple moving average is $16.49. The firm has a market cap of $331.99 million, a PE ratio of 7.34 and a beta of 0.96. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.56.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, January 22nd. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.35 by $0.08. RBB Bancorp had a return on equity of 8.36% and a net margin of 19.06%. The business had revenue of $33.06 million for the quarter, compared to analyst estimates of $27.60 million. Equities analysts forecast that RBB Bancorp will post 1.47 earnings per share for the current year.

Insider Buying and Selling at RBB Bancorp

In related news, Director James Kao purchased 5,000 shares of RBB Bancorp stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $17.02 per share, with a total value of $85,100.00. Following the transaction, the director now directly owns 485,376 shares of the company’s stock, valued at $8,261,099.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 35,977 shares of company stock valued at $624,060 in the last quarter. Corporate insiders own 13.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. UBS Group AG purchased a new position in shares of RBB Bancorp in the 3rd quarter valued at about $26,000. Tower Research Capital LLC TRC grew its stake in RBB Bancorp by 169.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,726 shares of the company’s stock worth $26,000 after buying an additional 1,086 shares during the last quarter. FMR LLC grew its stake in RBB Bancorp by 281.2% during the 1st quarter. FMR LLC now owns 2,836 shares of the company’s stock worth $44,000 after buying an additional 2,092 shares during the last quarter. Citigroup Inc. grew its stake in RBB Bancorp by 10,322.4% during the 2nd quarter. Citigroup Inc. now owns 5,107 shares of the company’s stock worth $61,000 after buying an additional 5,058 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in RBB Bancorp by 145.4% during the 2nd quarter. Wells Fargo & Company MN now owns 6,373 shares of the company’s stock worth $76,000 after buying an additional 3,776 shares during the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.

Wall Street Analyst Weigh In

RBB has been the topic of several recent analyst reports. TheStreet raised RBB Bancorp from a “c+” rating to a “b-” rating in a research note on Wednesday, December 27th. Stephens reaffirmed an “equal weight” rating and issued a $19.00 price target on shares of RBB Bancorp in a research note on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods increased their target price on RBB Bancorp from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th.

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.