RBB Bancorp (NASDAQ:RBB) Receives $24.33 Average Target Price from Analysts

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

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

RBB Bancorp Price Performance

NASDAQ RBB opened at $26.85 on Monday. The stock has a market cap of $454.84 million, a price-to-earnings ratio of 11.38 and a beta of 1.03. RBB Bancorp has a 52-week low of $16.74 and a 52-week high of $28.20. The business has a 50 day simple moving average of $24.90 and a 200 day simple moving average of $22.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.06.

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

RBB Bancorp Announces Dividend

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

RBB Bancorp announced that its Board of Directors has approved a share repurchase plan on Monday, June 15th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Chuang I. Lin sold 10,000 shares of RBB Bancorp stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $24.23, for a total transaction of $242,300.00. Following the completion of the transaction, the director owned 51,347 shares in the company, valued at approximately $1,244,137.81. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Richard Morris sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $23.90, for a total value of $107,550.00. Following the completion of the sale, the director owned 43,422 shares in the company, valued at $1,037,785.80. This represents a 9.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,814 shares of company stock valued at $597,630 in the last quarter. Company insiders own 6.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in RBB Bancorp by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 830,214 shares of the company’s stock valued at $17,742,000 after purchasing an additional 16,695 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RBB Bancorp by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 362,884 shares of the company’s stock worth $6,246,000 after buying an additional 14,751 shares during the last quarter. Rhino Investment Partners Inc boosted its holdings in shares of RBB Bancorp by 9.4% during the 1st quarter. Rhino Investment Partners Inc now owns 338,810 shares of the company’s stock worth $7,240,000 after buying an additional 29,070 shares during the period. State Street Corp boosted its holdings in shares of RBB Bancorp by 0.5% during the 4th quarter. State Street Corp now owns 320,706 shares of the company’s stock worth $6,619,000 after buying an additional 1,550 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in RBB Bancorp by 48.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 221,400 shares of the company’s stock valued at $4,731,000 after buying an additional 72,000 shares during the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.

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.