Hovde Group Begins Coverage on RBB Bancorp (NASDAQ:RBB)

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

Several other research firms have also issued reports on RBB. Stephens reissued an equal weight rating and issued a $19.00 price target on shares of RBB Bancorp in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods increased 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 report on Wednesday, January 24th. Finally, TheStreet raised shares of RBB Bancorp from a c+ rating to a b- rating in a research report on Wednesday, December 27th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, RBB Bancorp presently has a consensus rating of Hold and an average price target of $18.50.

RBB Bancorp Stock Down 2.3 %

RBB stock opened at $18.07 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 1.09. RBB Bancorp has a 52-week low of $8.62 and a 52-week high of $20.22. The company has a 50-day moving average of $17.43 and a two-hundred day moving average of $16.64. The stock has a market capitalization of $336.50 million, a price-to-earnings ratio of 8.11 and a beta of 0.96.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. The business had revenue of $58.17 million during the quarter, compared to analyst estimates of $27.40 million. RBB Bancorp had a net margin of 17.69% and a return on equity of 7.74%. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, equities research analysts anticipate that RBB Bancorp will post 1.47 EPS for the current year.

RBB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Tuesday, April 30th. RBB Bancorp’s dividend payout ratio is presently 28.07%.

Insiders Place Their Bets

In other RBB Bancorp news, Director James Kao bought 2,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $16.98 per share, with a total value of $33,960.00. Following the acquisition, the director now owns 519,175 shares of the company’s stock, valued at $8,815,591.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders acquired 35,977 shares of company stock valued at $624,060. Company insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd lifted its position in RBB Bancorp by 20.3% during the 4th quarter. Quadrature Capital Ltd now owns 13,004 shares of the company’s stock worth $248,000 after buying an additional 2,191 shares in the last quarter. AJOVista LLC bought a new stake in RBB Bancorp during the 4th quarter worth about $59,000. New York State Common Retirement Fund lifted its position in RBB Bancorp by 101.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after buying an additional 4,503 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in 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 worth $1,492,000 after buying an additional 641 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in RBB Bancorp during the 4th quarter worth about $177,000. 40.14% of the stock is owned by institutional investors.

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.