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

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

RBB Bancorp has increased its dividend by an average of 24.7% annually over the last three years and has raised its dividend every year for the last 3 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

Shares of RBB opened at $17.83 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $331.99 million, a P/E ratio of 7.34 and a beta of 0.96. The company’s fifty day moving average is $17.40 and its two-hundred day moving average is $16.49. RBB Bancorp has a 1 year low of $8.62 and a 1 year high of $20.22.

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. The company had revenue of $33.06 million for the quarter, compared to analysts’ expectations of $27.60 million. RBB Bancorp had a net margin of 19.06% and a return on equity of 8.36%. On average, sell-side analysts predict that RBB Bancorp will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In other RBB Bancorp news, Director James Kao acquired 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were acquired at an average cost of $18.05 per share, for a total transaction of $216,600.00. Following the transaction, the director now directly owns 460,376 shares of the company’s stock, valued at $8,309,786.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 35,977 shares of company stock worth $624,060 in the last three months. Corporate insiders own 13.15% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of RBB Bancorp by 15.0% in the 2nd quarter. BlackRock Inc. now owns 1,161,004 shares of the company’s stock worth $13,862,000 after buying an additional 151,140 shares in the last quarter. Vanguard Group Inc. lifted its holdings in RBB Bancorp by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 737,947 shares of the company’s stock valued at $14,051,000 after purchasing an additional 18,951 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in RBB Bancorp by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 669,001 shares of the company’s stock valued at $10,370,000 after purchasing an additional 29,699 shares in the last quarter. Wellington Management Group LLP lifted its holdings in RBB Bancorp by 1.9% in the 1st quarter. Wellington Management Group LLP now owns 369,637 shares of the company’s stock valued at $8,684,000 after purchasing an additional 6,953 shares in the last quarter. Finally, State Street Corp lifted its holdings in RBB Bancorp by 3.6% in the 2nd quarter. State Street Corp now owns 332,405 shares of the company’s stock valued at $3,969,000 after purchasing an additional 11,563 shares in the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RBB has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of RBB Bancorp from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Stephens restated an “equal weight” rating and set a $19.00 target price on shares of RBB Bancorp in a research report on Tuesday, January 23rd. Finally, TheStreet upgraded shares of RBB Bancorp from a “c+” rating to a “b-” rating in a research report on Wednesday, December 27th.

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.