Keefe, Bruyette & Woods Reiterates Market Perform Rating for RBB Bancorp (NASDAQ:RBB)

Keefe, Bruyette & Woods reiterated their market perform rating on shares of RBB Bancorp (NASDAQ:RBB) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $22.00 target price on the stock, up from their prior target price of $20.00.

A number of other research firms have also recently weighed in on RBB. Stephens restated an equal weight rating and set a $20.00 price objective on shares of RBB Bancorp in a research report on Tuesday. TheStreet upgraded shares of RBB Bancorp from a c+ rating to a b- rating in a research report on Wednesday, December 27th. Finally, Hovde Group initiated coverage on shares of RBB Bancorp in a research report on Monday. They set a market perform rating and a $19.00 price objective for the company. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $18.50.

RBB Bancorp Stock Performance

Shares of RBB traded up $0.07 during trading hours on Thursday, hitting $18.14. The stock had a trading volume of 7,046 shares, compared to its average volume of 40,959. 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 firm has a 50-day moving average price of $17.43 and a 200 day moving average price of $16.65. RBB Bancorp has a fifty-two week low of $8.62 and a fifty-two week high of $20.22. The firm has a market capitalization of $337.77 million, a price-to-earnings ratio of 7.93 and a beta of 0.96.

RBB Bancorp (NASDAQ:RBB) last posted its earnings results on Tuesday, April 23rd. 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 17.69% and a return on equity of 7.74%. The firm had revenue of $58.17 million during the quarter, compared to analysts’ expectations of $27.40 million. During the same period in the previous year, the business posted $0.58 EPS. As a group, research analysts anticipate that RBB Bancorp will post 1.47 EPS for the current year.

RBB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Wednesday, May 1st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Tuesday, April 30th. RBB Bancorp’s dividend payout ratio is currently 28.07%.

Insider Activity at RBB Bancorp

In other news, Director James Kao acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $16.98 per share, with a total value of $33,960.00. Following the completion of the acquisition, the director now owns 510,376 shares of the company’s stock, valued at approximately $8,666,184.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders bought 35,977 shares of company stock valued at $624,060. 6.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC boosted its stake in RBB Bancorp by 0.8% during the fourth 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 during the period. Quadrature Capital Ltd boosted its stake in shares of RBB Bancorp by 20.3% in the fourth 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 during the period. SG Americas Securities LLC purchased a new position in shares of RBB Bancorp in the fourth quarter valued at approximately $177,000. New York State Common Retirement Fund boosted its stake in shares of RBB Bancorp by 101.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock valued at $170,000 after purchasing an additional 4,503 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake 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 valued at $44,000 after purchasing an additional 929 shares during the period. Hedge funds and other institutional investors own 40.14% of the company’s stock.

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.