RBB Bancorp (NASDAQ:RBB) Short Interest Up 107.9% in March

RBB Bancorp (NASDAQ:RBB) saw a significant increase in short interest in March. As of March 13th, there was short interest totalling 68,200 shares, an increase of 107.9% from the February 27th total of 32,800 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 92,900 shares, the days-to-cover ratio is presently 0.7 days.

A number of analysts recently commented on RBB shares. Zacks Investment Research upgraded RBB Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. ValuEngine upgraded RBB Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, BidaskClub lowered RBB Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $21.50.

RBB traded up $1.54 during midday trading on Thursday, reaching $15.01. 121,500 shares of the company were exchanged, compared to its average volume of 48,236. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.06 and a current ratio of 1.10. RBB Bancorp has a one year low of $11.85 and a one year high of $21.90. The stock has a market capitalization of $257.69 million, a P/E ratio of 7.71 and a beta of 1.20. The stock’s 50-day simple moving average is $16.85 and its 200 day simple moving average is $19.41.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, January 27th. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.03). RBB Bancorp had a net margin of 24.50% and a return on equity of 10.00%. The business had revenue of $28.95 million for the quarter, compared to the consensus estimate of $31.76 million. On average, research analysts anticipate that RBB Bancorp will post 1.97 earnings per share for the current year.

In other RBB Bancorp news, Director James Kao bought 9,437 shares of the stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $16.90 per share, for a total transaction of $159,485.30. Company insiders own 23.92% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System bought a new stake in RBB Bancorp in the 4th quarter valued at $30,000. Edge Wealth Management LLC acquired a new stake in shares of RBB Bancorp in the fourth quarter valued at about $54,000. Citigroup Inc. increased its stake in shares of RBB Bancorp by 66.4% in the fourth quarter. Citigroup Inc. now owns 3,283 shares of the company’s stock valued at $70,000 after buying an additional 1,310 shares during the period. Meeder Asset Management Inc. increased its stake in shares of RBB Bancorp by 199.3% in the fourth quarter. Meeder Asset Management Inc. now owns 3,591 shares of the company’s stock valued at $75,000 after buying an additional 2,391 shares during the period. Finally, Denali Advisors LLC acquired a new stake in shares of RBB Bancorp in the fourth quarter valued at about $138,000. 32.90% of the stock is currently owned by institutional investors and hedge funds.

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 communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.

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