Piper Sandler Has Lowered Expectations for RBB Bancorp (NASDAQ:RBB) Stock Price

RBB Bancorp (NASDAQ:RBB) had its price objective cut by Piper Sandler from $23.00 to $20.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Stephens lowered their target price on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday.

RBB Bancorp Stock Down 2.0 %

RBB Bancorp stock opened at $18.57 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50-day simple moving average is $20.92 and its two-hundred day simple moving average is $22.19. The company has a market cap of $328.56 million, a PE ratio of 10.04 and a beta of 0.97. RBB Bancorp has a fifty-two week low of $16.54 and a fifty-two week high of $25.30.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, February 3rd. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. Equities analysts anticipate that RBB Bancorp will post 1.59 EPS for the current year.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be given a dividend of $0.16 per share. The ex-dividend date is Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.45%. RBB Bancorp’s dividend payout ratio is currently 43.84%.

Insiders Place Their Bets

In other RBB Bancorp news, CEO David Richard Morris sold 9,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total transaction of $224,010.00. Following the completion of the transaction, the chief executive officer now owns 37,722 shares of the company’s stock, valued at $938,900.58. This represents a 19.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Fan sold 12,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $23.45, for a total value of $281,400.00. The disclosure for this sale can be found here. 6.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RBB Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in shares of RBB Bancorp by 13.5% in the third quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock valued at $86,000 after purchasing an additional 444 shares during the last quarter. SG Americas Securities LLC increased its stake in RBB Bancorp by 20.0% during the fourth quarter. SG Americas Securities LLC now owns 6,992 shares of the company’s stock worth $143,000 after acquiring an additional 1,167 shares during the last quarter. R Squared Ltd acquired a new stake in RBB Bancorp during the fourth quarter worth $29,000. Rhumbline Advisers increased its stake in RBB Bancorp by 6.0% during the fourth quarter. Rhumbline Advisers now owns 26,554 shares of the company’s stock worth $544,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in RBB Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 55,760 shares of the company’s stock worth $1,143,000 after acquiring an additional 2,662 shares during the last quarter. 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.