Brokerages Expect RBB Bancorp (NASDAQ:RBB) Will Announce Quarterly Sales of $36.55 Million

Equities research analysts predict that RBB Bancorp (NASDAQ:RBBGet Rating) will announce $36.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for RBB Bancorp’s earnings. The lowest sales estimate is $36.40 million and the highest is $36.70 million. RBB Bancorp reported sales of $34.23 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that RBB Bancorp will report full year sales of $152.65 million for the current financial year, with estimates ranging from $151.90 million to $153.40 million. For the next financial year, analysts forecast that the business will post sales of $162.45 million, with estimates ranging from $161.60 million to $163.30 million. Zacks’ sales averages are an average based on a survey of research firms that cover RBB Bancorp.

RBB Bancorp (NASDAQ:RBBGet Rating) last released its earnings results on Monday, April 25th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. RBB Bancorp had a return on equity of 12.98% and a net margin of 35.39%. The company had revenue of $37.44 million for the quarter, compared to analysts’ expectations of $36.30 million. During the same period in the previous year, the business posted $0.63 EPS.

RBB has been the subject of several analyst reports. Hovde Group downgraded shares of RBB Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $35.00 to $30.00 in a report on Tuesday, February 22nd. Zacks Investment Research downgraded shares of RBB Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Janney Montgomery Scott downgraded shares of RBB Bancorp from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a report on Wednesday, February 23rd. Finally, Piper Sandler cut shares of RBB Bancorp from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $30.00 to $25.50 in a research report on Tuesday, March 29th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.60.

In other RBB Bancorp news, Director James Kao bought 18,000 shares of RBB Bancorp stock in a transaction on Friday, April 29th. The stock was acquired at an average price of $21.68 per share, with a total value of $390,240.00. Following the acquisition, the director now owns 431,876 shares in the company, valued at $9,363,071.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 20.89% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of RBB. Lazard Asset Management LLC boosted its stake in shares of RBB Bancorp by 61.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,699 shares of the company’s stock worth $44,000 after buying an additional 644 shares during the last quarter. Citigroup Inc. lifted its position in RBB Bancorp by 156.8% during the third quarter. Citigroup Inc. now owns 1,782 shares of the company’s stock valued at $45,000 after purchasing an additional 1,088 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in RBB Bancorp by 30.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,000 shares of the company’s stock valued at $79,000 after purchasing an additional 700 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in RBB Bancorp by 95.9% during the third quarter. BNP Paribas Arbitrage SA now owns 3,662 shares of the company’s stock valued at $92,000 after purchasing an additional 1,793 shares in the last quarter. Finally, Barclays PLC lifted its position in RBB Bancorp by 96.7% during the third quarter. Barclays PLC now owns 5,911 shares of the company’s stock valued at $149,000 after purchasing an additional 2,906 shares in the last quarter. 36.27% of the stock is owned by institutional investors and hedge funds.

RBB opened at $20.74 on Wednesday. The stock has a 50-day simple moving average of $23.52. RBB Bancorp has a twelve month low of $20.48 and a twelve month high of $29.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $403.48 million, a P/E ratio of 6.98 and a beta of 0.88.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 6th. Investors of record on Monday, May 2nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, April 29th. RBB Bancorp’s dividend payout ratio (DPR) is presently 18.86%.

About RBB Bancorp (Get Rating)

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.

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Earnings History and Estimates for RBB Bancorp (NASDAQ:RBB)

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