RBB Bancorp (NASDAQ:RBB) Receives New Coverage from Analysts at Hovde Group

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

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods lifted their target price on RBB Bancorp from $18.00 to $20.00 and gave the company a market perform rating in a research note on Wednesday, January 24th. Stephens reaffirmed an equal weight rating and issued a $19.00 price objective on shares of RBB Bancorp in a research report on Tuesday, January 23rd. 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 data from MarketBeat, RBB Bancorp presently has a consensus rating of Hold and a consensus price target of $17.75.

RBB Bancorp Trading Up 2.4 %

NASDAQ RBB opened at $18.26 on Monday. The company’s 50-day simple moving average is $17.40 and its two-hundred day simple moving average is $16.58. RBB Bancorp has a one year low of $8.62 and a one year high of $20.22. The company has a market capitalization of $340.00 million, a price-to-earnings ratio of 7.51 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 1.09.

RBB Bancorp (NASDAQ:RBB) last posted its earnings results on Monday, January 22nd. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. The company had revenue of $33.06 million during the quarter, compared to analyst estimates of $27.60 million. RBB Bancorp had a return on equity of 8.36% and a net margin of 19.06%. Equities analysts forecast that RBB Bancorp will post 1.47 EPS for the current fiscal year.

RBB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.50%. RBB Bancorp’s payout ratio is 26.34%.

Insider Activity

In related news, Director James Kao bought 5,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was bought at an average cost of $17.02 per share, for a total transaction of $85,100.00. Following the purchase, the director now directly owns 485,376 shares of the company’s stock, valued at $8,261,099.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 35,977 shares of company stock worth $624,060 over the last 90 days. 6.63% of the stock is currently owned by corporate insiders.

Institutional Trading of RBB Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBB. Wedge Capital Management L L P NC increased its holdings in shares of RBB Bancorp by 0.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 78,338 shares of the company’s stock valued at $1,492,000 after purchasing an additional 641 shares during the period. Quadrature Capital Ltd increased its holdings in RBB Bancorp by 20.3% in 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 during the period. SG Americas Securities LLC acquired a new position in RBB Bancorp in the 4th quarter worth approximately $177,000. New York State Common Retirement Fund raised 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in RBB Bancorp by 36.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock valued at $44,000 after acquiring an additional 929 shares during the period. Institutional investors and hedge funds own 40.14% of the company’s stock.

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.