RBB Bancorp (NASDAQ:RBB) Sees Large Growth in Short Interest

RBB Bancorp (NASDAQ:RBB) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 172,600 shares, an increase of 32.3% from the October 15th total of 130,500 shares. Based on an average daily volume of 46,400 shares, the short-interest ratio is currently 3.7 days. Currently, 1.1% of the shares of the stock are sold short.

Insider Activity at RBB Bancorp

In other RBB Bancorp news, CEO David Richard Morris sold 9,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total transaction of $224,010.00. Following the sale, the chief executive officer now owns 37,722 shares in the company, valued at approximately $938,900.58. The trade was a 19.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On RBB Bancorp

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of RBB Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 742,411 shares of the company’s stock valued at $13,371,000 after purchasing an additional 4,464 shares during the period. Dimensional Fund Advisors LP grew its stake in RBB Bancorp by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 697,656 shares of the company’s stock valued at $13,122,000 after buying an additional 53,539 shares during the last quarter. State Street Corp raised its holdings in RBB Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 323,727 shares of the company’s stock worth $7,452,000 after acquiring an additional 11,809 shares during the period. American Century Companies Inc. lifted its position in RBB Bancorp by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 248,501 shares of the company’s stock worth $4,674,000 after acquiring an additional 44,670 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in RBB Bancorp by 8.5% during the second quarter. Bank of New York Mellon Corp now owns 86,987 shares of the company’s stock valued at $1,636,000 after acquiring an additional 6,781 shares during the period. 40.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stephens reiterated an “equal weight” rating and set a $20.00 price target on shares of RBB Bancorp in a report on Tuesday, July 23rd. Piper Sandler upped their target price on RBB Bancorp from $21.00 to $21.50 and gave the company a “neutral” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.88.

RBB Bancorp Stock Down 1.8 %

Shares of NASDAQ:RBB traded down $0.44 during midday trading on Friday, hitting $24.39. 48,212 shares of the stock were exchanged, compared to its average volume of 51,672. The company has a market capitalization of $431.46 million, a PE ratio of 13.18 and a beta of 0.95. RBB Bancorp has a 52-week low of $14.84 and a 52-week high of $25.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.09 and a current ratio of 1.11. The business’s fifty day simple moving average is $23.12 and its two-hundred day simple moving average is $21.03.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $60.17 million during the quarter, compared to the consensus estimate of $28.17 million. RBB Bancorp had a return on equity of 5.94% and a net margin of 14.50%. During the same period last year, the business earned $0.63 EPS. As a group, research analysts predict that RBB Bancorp will post 1.58 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Thursday, October 31st. RBB Bancorp’s dividend payout ratio is presently 34.59%.

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.