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

Shares of RBB Bancorp (NASDAQ:RBB) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $25.50.

RBB has been the topic of several research reports. Zacks Research downgraded shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Stephens lifted their target price on RBB Bancorp from $26.00 to $29.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd. Weiss Ratings raised RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Finally, Hovde Group raised RBB Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $26.00 to $29.00 in a report on Tuesday, June 16th.

Insider Activity at RBB Bancorp

In other news, EVP Gary Fan sold 2,368 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.01, for a total value of $56,855.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Richard Morris sold 1,946 shares of RBB Bancorp stock in a transaction dated Thursday, June 4th. The shares were 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 $1,041,693.78. This represents a 4.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.78% of the company’s stock.

Institutional Trading of RBB Bancorp

Several hedge funds have recently modified their holdings of RBB. Torren Management LLC acquired a new position in shares of RBB Bancorp in the 4th quarter worth approximately $28,000. BNP Paribas Financial Markets raised its position in RBB Bancorp by 84.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock valued at $31,000 after purchasing an additional 835 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in RBB Bancorp in the fourth quarter worth $34,000. SG Americas Securities LLC acquired a new position in RBB Bancorp in the fourth quarter worth $112,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 40.14% of the company’s stock.

RBB Bancorp Stock Performance

RBB opened at $26.81 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $26.05 and its two-hundred day moving average price is $23.60. The firm has a market capitalization of $454.16 million, a P/E ratio of 11.03 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 posted its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. RBB Bancorp had a return on equity of 7.99% and a net margin of 17.26%.The company had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $33.17 million. On average, equities analysts forecast that RBB Bancorp will post 2.37 earnings per share for the current year.

RBB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Friday, July 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.4%. RBB Bancorp’s payout ratio is presently 26.34%.

RBB Bancorp declared that its Board of Directors has approved a share repurchase program on Monday, June 15th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.