David Richard Morris Sells 1,946 Shares of RBB Bancorp (NASDAQ:RBB) Stock

RBB Bancorp (NASDAQ:RBB) Director David Richard Morris sold 1,946 shares of RBB Bancorp stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $23.99, for a total transaction of $46,684.54. Following the transaction, the director directly owned 43,422 shares of the company’s stock, valued at approximately $1,041,693.78. This represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

David Richard Morris also recently made the following trade(s):

• On Monday, May 4th, David Richard Morris sold 4,500 shares of RBB Bancorp stock. The stock was sold at an average price of $23.90, for a total transaction of $107,550.00.

RBB Bancorp Price Performance

RBB stock opened at $24.50 on Wednesday. RBB Bancorp has a 12 month low of $15.94 and a 12 month high of $24.86. 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 company has a 50-day moving average price of $23.30 and a 200 day moving average price of $22.01. The stock has a market cap of $415.03 million, a PE ratio of 10.38 and a beta of 1.05.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Monday, April 20th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $32.38 million. Equities research analysts anticipate that RBB Bancorp will post 2.35 earnings per share for the current year.

RBB Bancorp Announces Dividend

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

Institutional Investors Weigh In On RBB Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBB. Torren Management LLC bought a new stake in RBB Bancorp during the 4th quarter valued at about $28,000. BNP Paribas Financial Markets lifted its holdings in RBB Bancorp by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock valued at $31,000 after buying an additional 835 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new stake in RBB Bancorp during the 4th quarter valued at about $34,000. PNC Financial Services Group Inc. lifted its holdings in RBB Bancorp by 75.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,442 shares of the company’s stock valued at $102,000 after buying an additional 2,337 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of RBB Bancorp in the 4th quarter valued at about $112,000. Institutional investors own 40.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RBB. Hovde Group lifted their price objective on shares of RBB Bancorp from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday, April 22nd. Zacks Research upgraded shares of RBB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.33.

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.