RBB Bancorp (NASDAQ:RBB) Coverage Initiated by Analysts at Hovde Group

Hovde Group assumed coverage on shares of RBB Bancorp (NASDAQ:RBB) in a research note published on Monday, StockNewsAPI reports. The firm issued a market perform rating and a $19.00 target price on the stock.

A number of other research analysts have also weighed in on RBB. Keefe, Bruyette & Woods increased their price target on RBB Bancorp from $18.00 to $20.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. Stephens reiterated an equal weight rating and issued a $19.00 target price on shares of RBB Bancorp in a research note on Tuesday, January 23rd. Finally, TheStreet raised RBB Bancorp from a c+ rating to a b- rating in a research note on Wednesday, December 27th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $17.75.

RBB Bancorp Price Performance

NASDAQ:RBB opened at $18.26 on Monday. RBB Bancorp has a 12-month low of $8.62 and a 12-month high of $20.22. The firm has a market cap of $340.00 million, a price-to-earnings ratio of 7.51 and a beta of 0.96. The company’s 50-day moving average is $17.40 and its two-hundred day moving average is $16.58. 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 (EPS) 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 the consensus estimate of $27.60 million. Research analysts expect that RBB Bancorp will post 1.47 EPS for the current year.

RBB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.50%. RBB Bancorp’s dividend payout ratio is presently 26.34%.

Insider Transactions at RBB Bancorp

In other news, Director James Kao purchased 12,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was bought at an average cost of $18.05 per share, for a total transaction of $216,600.00. Following the completion of the purchase, the director now directly owns 460,376 shares of the company’s stock, valued at approximately $8,309,786.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 35,977 shares of company stock worth $624,060 in the last ninety days. Insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Large investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC lifted its holdings in shares of RBB Bancorp by 0.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 78,338 shares of the company’s stock valued at $1,492,000 after acquiring an additional 641 shares in the last quarter. Quadrature Capital Ltd increased its holdings in RBB Bancorp by 20.3% in the 4th quarter. Quadrature Capital Ltd now owns 13,004 shares of the company’s stock valued at $248,000 after purchasing an additional 2,191 shares in the last quarter. SG Americas Securities LLC purchased a new position in RBB Bancorp in the fourth quarter valued at about $177,000. New York State Common Retirement Fund lifted its stake in shares of RBB Bancorp by 101.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after purchasing an additional 4,503 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of RBB Bancorp by 36.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock worth $44,000 after buying an additional 929 shares during the period. Institutional investors and hedge funds own 40.14% of the company’s stock.

About RBB Bancorp

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.