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

Shares of RBB Bancorp (NASDAQ:RBB) have received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $24.3333.

RBB has been the topic of several analyst reports. Weiss Ratings upgraded shares of RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Hovde Group raised shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $26.00 to $29.00 in a research report on Tuesday, June 16th. Finally, Zacks Research upgraded RBB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th.

Insider Transactions at RBB Bancorp

In related news, EVP Gary Fan sold 2,368 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.01, for a total transaction of $56,855.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Chuang I. Lin sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $24.23, for a total value of $242,300.00. Following the sale, the director owned 51,347 shares in the company, valued at approximately $1,244,137.81. This represents a 16.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 24,814 shares of company stock worth $597,630. Insiders own 6.78% of the company’s stock.

Hedge Funds Weigh In On RBB Bancorp

A number of hedge funds have recently made changes to their positions in RBB. Torren Management LLC bought a new position in shares of RBB Bancorp during the 4th quarter worth about $28,000. BNP Paribas Financial Markets raised its position in RBB Bancorp by 84.9% in the second quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock worth $31,000 after purchasing an additional 835 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in RBB Bancorp in the fourth quarter worth about $34,000. SG Americas Securities LLC bought a new position in RBB Bancorp during the fourth quarter worth about $112,000. Finally, Public Employees Retirement System of Ohio lifted its stake in RBB Bancorp by 17.9% during the third quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock worth $124,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 40.14% of the company’s stock.

RBB Bancorp Price Performance

Shares of RBB Bancorp stock opened at $26.85 on Monday. The firm has a market cap of $454.84 million, a price-to-earnings ratio of 11.38 and a beta of 1.03. The stock has a 50-day simple moving average of $24.90 and a 200-day simple moving average of $22.85. RBB Bancorp has a 52-week low of $16.74 and a 52-week high of $28.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.06 and a quick ratio of 1.06.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, April 20th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.21. The firm had revenue of $34.75 million for the quarter, compared to the consensus estimate of $32.38 million. RBB Bancorp had a return on equity of 7.85% and a net margin of 16.76%. On average, equities research analysts expect that RBB Bancorp will post 2.36 earnings per share for the current fiscal year.

RBB Bancorp declared that its board has authorized a stock repurchase program on Monday, June 15th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

RBB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a $0.16 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. RBB Bancorp’s payout ratio is presently 27.12%.

About RBB Bancorp

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.