RBB Bancorp (NASDAQ:RBB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of RBB Bancorp (NASDAQ:RBB) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $25.50.

A number of equities research analysts have recently commented on RBB shares. Weiss Ratings upgraded RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Zacks Research lowered shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $26.00 to $29.00 in a report on Tuesday, June 16th. Finally, Stephens lifted their price objective on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd.

Hedge Funds Weigh In On RBB Bancorp

Several institutional investors have recently bought and sold shares of RBB. Legal & General Group Plc bought a new position in RBB Bancorp during the second quarter valued at $46,000. PNC Financial Services Group Inc. raised its stake in shares of RBB Bancorp by 10.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,781 shares of the company’s stock valued at $145,000 after buying an additional 636 shares during the period. AXQ Capital LP purchased a new position in shares of RBB Bancorp during the 2nd quarter valued at $238,000. Ieq Capital LLC purchased a new position in shares of RBB Bancorp during the 2nd quarter valued at $246,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of RBB Bancorp during the 2nd quarter worth $252,000. Hedge funds and other institutional investors own 40.14% of the company’s stock.

RBB Bancorp Stock Performance

Shares of RBB opened at $26.70 on Friday. The stock has a 50 day moving average of $26.72 and a 200 day moving average of $24.66. The company has a market capitalization of $451.76 million, a price-to-earnings ratio of 10.99 and a beta of 1.02. RBB Bancorp has a 12 month low of $16.74 and a 12 month high of $28.24. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.55.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. The business had revenue of $33.10 million for the quarter, compared to analysts’ expectations of $33.17 million. RBB Bancorp had a return on equity of 7.94% and a net margin of 17.26%. As a group, sell-side analysts forecast that RBB Bancorp will post 2.37 earnings per share for the current year.

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. RBB Bancorp’s dividend payout ratio (DPR) is presently 26.34%.

RBB Bancorp announced that its Board of Directors has initiated a stock buyback program on Monday, June 15th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

About RBB Bancorp

RBB Bancorp is a bank holding company headquartered in Los Angeles, California. Through its principal subsidiary, Royal Business Bank, the company provides banking services to businesses, professionals, entrepreneurs and individuals, with a focus on serving small and mid-sized businesses and Asian-American communities.

Royal Business Bank offers commercial and industrial loans, commercial real estate financing, residential mortgage loans, Small Business Administration lending, construction loans and other credit products.