RBB Bancorp (NASDAQ:RBB) Announces Quarterly Dividend of $0.16

RBB Bancorp (NASDAQ:RBB) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Wednesday, May 1st will be given a dividend of 0.16 per share on Monday, May 13th. This represents a $0.64 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, April 30th.

RBB Bancorp has increased its dividend payment by an average of 24.7% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. RBB Bancorp has a dividend payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect RBB Bancorp to earn $1.72 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 37.2%.

RBB Bancorp Stock Performance

NASDAQ RBB opened at $17.83 on Friday. The company’s 50 day moving average is $17.40 and its 200-day moving average is $16.49. RBB Bancorp has a 12-month low of $8.62 and a 12-month high of $20.22. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. The firm has a market cap of $331.99 million, a P/E ratio of 7.34 and a beta of 0.96.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results 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. The company had revenue of $33.06 million for the quarter, compared to analyst estimates of $27.60 million. RBB Bancorp had a net margin of 19.06% and a return on equity of 8.36%. Sell-side analysts predict that RBB Bancorp will post 1.47 earnings per share for the current year.

Insider Activity

In other news, Director James Kao purchased 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $16.98 per share, with a total value of $33,960.00. Following the transaction, the director now directly owns 510,376 shares of the company’s stock, valued at approximately $8,666,184.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 35,977 shares of company stock valued at $624,060. Corporate insiders own 13.15% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in RBB Bancorp by 43.4% in the 3rd quarter. Deutsche Bank AG now owns 12,171 shares of the company’s stock worth $156,000 after purchasing an additional 3,686 shares in the last quarter. BNP Paribas Arbitrage SNC raised its holdings in RBB Bancorp by 85.6% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 7,004 shares of the company’s stock worth $146,000 after purchasing an additional 3,230 shares in the last quarter. Barclays PLC raised its holdings in RBB Bancorp by 88.7% in the 1st quarter. Barclays PLC now owns 7,413 shares of the company’s stock worth $115,000 after purchasing an additional 3,485 shares in the last quarter. UBS Group AG raised its holdings in RBB Bancorp by 299.3% in the 4th quarter. UBS Group AG now owns 4,971 shares of the company’s stock worth $104,000 after purchasing an additional 3,726 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in RBB Bancorp by 17.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,774 shares of the company’s stock worth $78,000 after purchasing an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stephens reaffirmed an “equal weight” rating and set a $19.00 target price on shares of RBB Bancorp in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods boosted their price target on shares of RBB Bancorp from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Finally, TheStreet raised shares of RBB Bancorp from a “c+” rating to a “b-” rating in a research note on Wednesday, December 27th.

RBB Bancorp Company Profile

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.