RBB Bancorp (RBB) to Issue Quarterly Dividend of $0.16 on May 13th

RBB Bancorp (NASDAQ:RBB) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Tuesday, April 30th.

RBB Bancorp has increased its dividend by an average of 24.7% annually over the last three years and has increased its dividend every year for the last 3 years. RBB Bancorp has a 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 Price Performance

Shares of RBB stock opened at $17.83 on Friday. The firm’s 50 day moving average is $17.40 and its 200-day moving average is $16.49. RBB Bancorp has a 1 year low of $8.62 and a 1 year high of $20.22. The firm has a market capitalization of $331.99 million, a price-to-earnings ratio of 7.34 and a beta of 0.96. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.56.

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

Insiders Place Their Bets

In related news, Director James Kao acquired 12,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was bought at an average price of $18.05 per share, with a total value of $216,600.00. Following the completion of the transaction, the director now directly owns 460,376 shares of the company’s stock, valued at $8,309,786.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have purchased 35,977 shares of company stock worth $624,060. Company insiders own 13.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of RBB Bancorp by 15.0% in the second quarter. BlackRock Inc. now owns 1,161,004 shares of the company’s stock valued at $13,862,000 after purchasing an additional 151,140 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in RBB Bancorp by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 603,750 shares of the company’s stock valued at $11,496,000 after buying an additional 44,565 shares during the last quarter. First Trust Advisors LP acquired a new stake in RBB Bancorp in the 3rd quarter valued at $924,000. Alliancebernstein L.P. increased its stake in RBB Bancorp by 20.5% in the 2nd quarter. Alliancebernstein L.P. now owns 242,686 shares of the company’s stock valued at $2,898,000 after buying an additional 41,230 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in RBB Bancorp by 14.0% in the 2nd quarter. Geode Capital Management LLC now owns 303,014 shares of the company’s stock valued at $3,618,000 after buying an additional 37,167 shares during the last quarter. 40.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Stephens restated an “equal weight” rating and issued a $19.00 price objective on shares of RBB Bancorp in a report on Tuesday, January 23rd. TheStreet upgraded shares of RBB Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, December 27th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of RBB Bancorp from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th.

RBB Bancorp Company Profile

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.