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

RBB Bancorp (NASDAQ:RBB) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $25.50.

Several equities research analysts have recently commented on the stock. Zacks Research cut shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Stephens raised their price objective on shares of RBB Bancorp from $26.00 to $29.00 and gave the company a “positive” rating in a research note on Thursday, July 23rd. Finally, Hovde Group raised shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $26.00 to $29.00 in a report on Tuesday, June 16th.

RBB Bancorp Price Performance

Shares of RBB stock opened at $26.59 on Tuesday. The stock has a 50-day moving average price of $26.71 and a 200 day moving average price of $24.08. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.55. The firm has a market cap of $449.90 million, a price-to-earnings ratio of 10.94 and a beta of 1.03. RBB Bancorp has a 12 month low of $16.74 and a 12 month high of $28.24.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. RBB Bancorp had a return on equity of 7.94% and a net margin of 17.26%.The firm had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $33.17 million. Research analysts expect that RBB Bancorp will post 2.37 EPS for the current year.

RBB Bancorp declared that its board has initiated a stock buyback program on Monday, June 15th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, July 31st. RBB Bancorp’s dividend payout ratio (DPR) is currently 26.34%.

Insider Activity at RBB Bancorp

In related news, Director David Richard Morris sold 1,946 shares of RBB Bancorp stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $23.99, for a total transaction of $46,684.54. Following the completion of the sale, the director directly owned 43,422 shares of the company’s stock, valued at $1,041,693.78. The trade was a 4.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RBB Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC acquired a new position in shares of RBB Bancorp during the 4th quarter worth about $28,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of RBB Bancorp in the 4th quarter valued at approximately $34,000. Legal & General Group Plc acquired a new stake in shares of RBB Bancorp in the 2nd quarter valued at approximately $46,000. BNP Paribas Financial Markets boosted its stake in 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 acquiring an additional 835 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in RBB Bancorp by 12.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,145 shares of the company’s stock worth $127,000 after acquiring an additional 703 shares during the last quarter. Institutional investors own 40.14% of the company’s stock.

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.