Short Interest in RBB Bancorp (NASDAQ:RBB) Declines By 28.9%

RBB Bancorp (NASDAQ:RBB) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 78,000 shares, a drop of 28.9% from the January 31st total of 109,700 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 42,700 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stephens reduced their price objective on shares of RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered their price objective on shares of RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lowered their target price on RBB Bancorp from $26.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th.

RBB Bancorp Stock Up 0.3 %

NASDAQ:RBB traded up $0.06 during midday trading on Wednesday, reaching $17.49. 13,795 shares of the stock traded hands, compared to its average volume of 42,813. RBB Bancorp has a 12-month low of $16.54 and a 12-month high of $25.30. The business has a 50-day moving average of $19.04 and a two-hundred day moving average of $21.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $309.45 million, a PE ratio of 12.00 and a beta of 0.95.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.21% and a net margin of 11.49%. On average, equities analysts forecast that RBB Bancorp will post 1.63 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Friday, January 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.66%. RBB Bancorp’s payout ratio is presently 43.84%.

Insider Activity at RBB Bancorp

In other news, EVP Gary Fan sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $23.45, for a total value of $281,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Kao acquired 5,960 shares of the stock in a transaction on Monday, February 24th. The stock was bought at an average price of $17.24 per share, with a total value of $102,750.40. Following the transaction, the director now directly owns 557,823 shares of the company’s stock, valued at approximately $9,616,868.52. The trade was a 1.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 9,924 shares of company stock valued at $171,398 over the last ninety days. Corporate insiders own 6.63% of the company’s stock.

Institutional Trading of RBB Bancorp

Several large investors have recently added to or reduced their stakes in RBB. Vanguard Group Inc. lifted its stake in RBB Bancorp by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 807,176 shares of the company’s stock worth $16,539,000 after purchasing an additional 5,484 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in RBB Bancorp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 735,923 shares of the company’s stock valued at $15,079,000 after acquiring an additional 13,824 shares during the last quarter. Rhino Investment Partners Inc lifted its stake in RBB Bancorp by 231.8% in the fourth quarter. Rhino Investment Partners Inc now owns 513,546 shares of the company’s stock valued at $10,523,000 after buying an additional 358,779 shares during the last quarter. American Century Companies Inc. grew its position in RBB Bancorp by 12.2% during the 4th quarter. American Century Companies Inc. now owns 343,644 shares of the company’s stock worth $7,041,000 after purchasing an additional 37,282 shares during the last quarter. Finally, State Street Corp increased its position in RBB Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 323,727 shares of the company’s stock valued at $7,452,000 after acquiring an additional 11,809 shares during the period. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

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.