RBB Bancorp (NASDAQ:RBB) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

RBB Bancorp (NASDAQ:RBB) posted its quarterly earnings data on Monday. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.45 by $0.21, Zacks reports. RBB Bancorp had a return on equity of 6.19% and a net margin of 13.42%.The firm had revenue of $34.75 million for the quarter, compared to the consensus estimate of $32.38 million.

RBB Bancorp Price Performance

Shares of RBB Bancorp stock traded up $0.06 during trading hours on Monday, hitting $22.93. The company’s stock had a trading volume of 53,008 shares, compared to its average volume of 64,619. The business has a 50 day moving average price of $21.72 and a two-hundred day moving average price of $20.72. RBB Bancorp has a 12-month low of $14.40 and a 12-month high of $23.14. The company has a market cap of $391.42 million, a PE ratio of 12.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.

RBB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, January 30th. RBB Bancorp’s payout ratio is presently 34.97%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research downgraded RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RBB Bancorp in a research note on Wednesday, January 28th. Finally, Wall Street Zen downgraded RBB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Hedge Funds Weigh In On RBB Bancorp

Several large investors have recently made changes to their positions in RBB. Arrowstreet Capital Limited Partnership lifted its position in shares of RBB Bancorp by 80.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 200,190 shares of the company’s stock valued at $3,756,000 after acquiring an additional 89,035 shares in the last quarter. Millennium Management LLC lifted its position in shares of RBB Bancorp by 213.9% in the third quarter. Millennium Management LLC now owns 64,005 shares of the company’s stock valued at $1,201,000 after acquiring an additional 43,617 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of RBB Bancorp in the fourth quarter valued at about $856,000. Martingale Asset Management L P purchased a new position in shares of RBB Bancorp in the fourth quarter valued at about $772,000. Finally, First Trust Advisors LP lifted its position in shares of RBB Bancorp by 319.2% in the third quarter. First Trust Advisors LP now owns 48,829 shares of the company’s stock valued at $916,000 after acquiring an additional 37,182 shares in the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

RBB Bancorp Company Profile

RBB Bancorp is a bank holding company headquartered in Los Angeles, California, and the parent of Royal Business Bank. Established in 2008, the company focuses on providing a full range of commercial banking services tailored to small- and medium-sized businesses, professionals and real estate investors. Through its subsidiary, RBB Bancorp delivers deposit products, loan facilities and cash management solutions designed to support operations and growth strategies.

The company’s core offerings include commercial real estate lending, construction and land development loans, Small Business Administration (SBA) lending and trade finance.