RBB Bancorp Announces Quarterly Dividend of $0.16 (NASDAQ:RBB)

RBB Bancorp (NASDAQ:RBB) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Wednesday, May 1st will be paid a dividend of 0.16 per share on Monday, May 13th. This represents a $0.64 annualized dividend and a yield of 3.59%. The ex-dividend date is Tuesday, April 30th.

RBB Bancorp has raised its dividend by an average of 24.7% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. RBB Bancorp has a payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect RBB Bancorp to earn $1.72 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 37.2%.

RBB Bancorp Stock Up 5.2 %

Shares of NASDAQ RBB opened at $17.83 on Friday. RBB Bancorp has a 12-month low of $8.62 and a 12-month high of $20.22. The stock has a market cap of $331.99 million, a PE ratio of 7.34 and a beta of 0.96. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $17.40 and a 200 day moving average of $16.49.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, January 22nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. RBB Bancorp had a net margin of 19.06% and a return on equity of 8.36%. The company had revenue of $33.06 million during the quarter, compared to analysts’ expectations of $27.60 million. As a group, sell-side analysts predict that RBB Bancorp will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

RBB has been the subject of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of RBB Bancorp from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Stephens reiterated an “equal weight” rating and issued a $19.00 target price on shares of RBB Bancorp in a report on Tuesday, January 23rd. Finally, TheStreet upgraded shares of RBB Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, December 27th.

Insider Transactions at RBB Bancorp

In related news, Director James Kao acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average cost of $17.02 per share, for a total transaction of $85,100.00. Following the acquisition, the director now owns 485,376 shares in the company, valued at approximately $8,261,099.52. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have purchased 35,977 shares of company stock worth $624,060. 13.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RBB Bancorp

Several large investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in shares of RBB Bancorp by 3.4% in the 1st quarter. Invesco Ltd. now owns 15,709 shares of the company’s stock worth $369,000 after acquiring an additional 516 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of RBB Bancorp by 17.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,774 shares of the company’s stock worth $78,000 after acquiring an additional 552 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of RBB Bancorp by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 38,765 shares of the company’s stock worth $808,000 after acquiring an additional 712 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of RBB Bancorp by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 119,289 shares of the company’s stock worth $2,802,000 after acquiring an additional 742 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in RBB Bancorp by 9.8% during the 1st quarter. First Trust Advisors LP now owns 9,942 shares of the company’s stock worth $234,000 after buying an additional 885 shares in the last quarter. 40.14% of the stock is currently owned by institutional investors and hedge funds.

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.