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

RBB Bancorp (NASDAQ:RBB) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.50.

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

RBB Bancorp Stock Down 0.2%

Shares of NASDAQ:RBB opened at $26.59 on Tuesday. RBB Bancorp has a 52 week low of $16.74 and a 52 week high of $28.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.07 and a current ratio of 1.07. The company’s fifty day moving average is $26.71 and its 200-day moving average is $24.08. The company has a market capitalization of $449.90 million, a PE ratio of 10.94 and a beta of 1.03.

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

RBB Bancorp announced that its Board of Directors has approved a stock repurchase program on Monday, June 15th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

RBB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were issued a dividend of $0.16 per share. 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 is presently 26.34%.

Insider Buying and Selling at RBB Bancorp

In related news, 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 value of $46,684.54. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.78% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new stake in shares of RBB Bancorp during the fourth quarter valued at approximately $3,084,000. North Reef Capital Management LP bought a new position in RBB Bancorp in the 1st quarter worth approximately $1,371,000. Walleye Capital LLC bought a new position in RBB Bancorp in the 2nd quarter worth approximately $1,256,000. GSA Capital Partners LLP lifted its holdings in RBB Bancorp by 224.7% during the 4th quarter. GSA Capital Partners LLP now owns 39,576 shares of the company’s stock worth $817,000 after buying an additional 27,386 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in RBB Bancorp by 47.9% during the 1st quarter. Quantinno Capital Management LP now owns 66,144 shares of the company’s stock worth $1,413,000 after buying an additional 21,434 shares in 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.