RBB Bancorp (NASDAQ:RBB) Receives Consensus Rating of “Moderate Buy” from Brokerages

RBB Bancorp (NASDAQ:RBB) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.3333.

Several brokerages have recently commented on RBB. Weiss Ratings raised shares of RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Hovde Group raised RBB Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $26.00 to $29.00 in a report on Tuesday, June 16th. Finally, Zacks Research upgraded RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th.

Insider Activity at RBB Bancorp

In related news, EVP Gary Fan sold 2,368 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.01, for a total transaction of $56,855.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Richard Morris sold 1,946 shares of RBB Bancorp stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $23.99, for a total transaction of $46,684.54. Following the completion of the transaction, the director directly owned 43,422 shares of the company’s stock, valued at approximately $1,041,693.78. This represents a 4.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 24,814 shares of company stock valued at $597,630. Corporate insiders own 6.78% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Institutional investors have recently modified their holdings of the business. Torren Management LLC bought a new position in RBB Bancorp in the fourth quarter worth about $28,000. BNP Paribas Financial Markets grew its holdings in shares of RBB Bancorp by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock valued at $31,000 after purchasing an additional 835 shares during the last quarter. CANADA LIFE ASSURANCE Co bought a new position in shares of RBB Bancorp during the fourth quarter valued at approximately $34,000. SG Americas Securities LLC acquired a new stake in shares of RBB Bancorp during the 4th quarter worth approximately $112,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of RBB Bancorp by 17.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock worth $124,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 40.14% of the company’s stock.

RBB Bancorp Stock Performance

RBB opened at $27.13 on Monday. RBB Bancorp has a 12-month low of $16.74 and a 12-month high of $28.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $459.58 million, a PE ratio of 11.50 and a beta of 1.03. The firm’s fifty day moving average price is $24.62 and its 200 day moving average price is $22.68.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, April 20th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.21. The company had revenue of $34.75 million during the quarter, compared to analyst estimates of $32.38 million. RBB Bancorp had a net margin of 16.76% and a return on equity of 7.85%. As a group, research analysts expect that RBB Bancorp will post 2.36 EPS for the current fiscal year.

RBB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, April 30th. RBB Bancorp’s payout ratio is 27.12%.

RBB Bancorp announced that its Board of Directors has authorized a share buyback plan on Monday, June 15th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

About RBB Bancorp

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.