RBB Bancorp’s (RBB) “Market Perform” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of RBB Bancorp (NASDAQ:RBB) in a report released on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $22.00 target price on the stock, up from their prior target price of $20.00.

Several other equities analysts have also recently issued reports on RBB. Hovde Group initiated coverage on shares of RBB Bancorp in a research note on Monday, April 22nd. They issued a market perform rating and a $19.00 target price for the company. TheStreet upgraded RBB Bancorp from a c+ rating to a b- rating in a research note on Wednesday, December 27th. Finally, Stephens reiterated an equal weight rating and set a $20.00 price target on shares of RBB Bancorp in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, RBB Bancorp currently has an average rating of Hold and a consensus price target of $18.50.

RBB Bancorp Price Performance

NASDAQ:RBB opened at $18.06 on Thursday. The firm’s fifty day moving average is $17.43 and its two-hundred day moving average is $16.74. The firm has a market cap of $336.28 million, a price-to-earnings ratio of 7.92 and a beta of 0.96. RBB Bancorp has a one year low of $8.62 and a one year high of $20.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 1.09.

RBB Bancorp (NASDAQ:RBB) last posted its earnings results on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.35 by $0.08. RBB Bancorp had a return on equity of 7.74% and a net margin of 17.69%. The firm had revenue of $58.17 million for the quarter, compared to analyst estimates of $27.40 million. During the same period last year, the company earned $0.58 earnings per share. Research analysts expect that RBB Bancorp will post 1.49 EPS for the current year.

RBB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.54%. RBB Bancorp’s dividend payout ratio is currently 28.07%.

Insider Activity at RBB Bancorp

In other news, Director James Kao acquired 12,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was bought at an average cost of $18.05 per share, for a total transaction of $216,600.00. Following the purchase, the director now owns 460,376 shares in the company, valued at $8,309,786.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 35,977 shares of company stock valued at $624,060. 6.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its position in shares of RBB Bancorp by 0.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 78,338 shares of the company’s stock valued at $1,492,000 after buying an additional 641 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in RBB Bancorp in the 3rd quarter valued at about $138,000. SG Americas Securities LLC purchased a new position in RBB Bancorp in the 4th quarter worth approximately $177,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of RBB Bancorp by 36.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock worth $44,000 after purchasing an additional 929 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of RBB Bancorp by 101.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after purchasing an additional 4,503 shares during the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.

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.