RBB Bancorp (NASDAQ:RBB) Price Target Raised to $21.00

RBB Bancorp (NASDAQ:RBB) had its target price upped by Keefe, Bruyette & Woods from $19.00 to $21.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

RBB Bancorp Stock Performance

NASDAQ RBB opened at $18.95 on Wednesday. The firm has a market cap of $336.17 million, a price-to-earnings ratio of 14.69 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $17.44 and a 200-day moving average price of $17.32. RBB Bancorp has a twelve month low of $14.40 and a twelve month high of $25.30.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, July 21st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.16. The firm had revenue of $35.81 million during the quarter, compared to analyst estimates of $29.60 million. RBB Bancorp had a return on equity of 4.52% and a net margin of 9.80%. As a group, equities research analysts predict that RBB Bancorp will post 1.63 EPS for the current fiscal year.

RBB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Thursday, July 31st will be given a $0.16 dividend. The ex-dividend date is Thursday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.38%. RBB Bancorp’s dividend payout ratio is currently 49.61%.

RBB Bancorp announced that its board has approved a share repurchase program on Thursday, May 29th that permits the company to repurchase $18.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On RBB Bancorp

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of RBB Bancorp by 195.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the company’s stock worth $36,000 after buying an additional 1,149 shares in the last quarter. Wells Fargo & Company MN raised its position in RBB Bancorp by 25.2% during the fourth quarter. Wells Fargo & Company MN now owns 9,564 shares of the company’s stock valued at $196,000 after purchasing an additional 1,925 shares during the period. MetLife Investment Management LLC raised its position in RBB Bancorp by 14.9% during the fourth quarter. MetLife Investment Management LLC now owns 10,315 shares of the company’s stock valued at $211,000 after purchasing an additional 1,336 shares during the period. Squarepoint Ops LLC purchased a new stake in RBB Bancorp during the fourth quarter valued at approximately $215,000. Finally, Royal Bank of Canada raised its position in RBB Bancorp by 20.4% during the first quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock valued at $268,000 after purchasing an additional 2,762 shares during the period. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

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.