Key Points
- Director sale: David Richard Morris sold 4,500 RBB shares on May 4 at an average of $23.90 for $107,550, cutting his stake by 9.39% to 43,422 shares, per an SEC filing.
- Earnings beat: RBB reported Q1 EPS of $0.66 (vs. $0.45 expected) and revenue of $34.75M (vs. $32.38M), while the stock trades at a market cap of about $412M and a PE of 10.23.
- Dividend & outlook: The firm declared a quarterly dividend of $0.16 (annualized $0.64, ~2.7% yield), and analysts have a consensus Hold rating with a $23.33 price target.
RBB Bancorp (NASDAQ:RBB - Get Free Report) Director David Richard Morris sold 4,500 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.90, for a total value of $107,550.00. Following the transaction, the director owned 43,422 shares of the company's stock, valued at $1,037,785.80. This trade represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
RBB Bancorp Price Performance
Shares of NASDAQ RBB opened at $24.14 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $22.08 and a 200 day simple moving average of $21.14. RBB Bancorp has a twelve month low of $14.66 and a twelve month high of $24.73. The company has a market capitalization of $412.07 million, a PE ratio of 10.23 and a beta of 1.07.
RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.21. RBB Bancorp had a return on equity of 7.90% and a net margin of 16.76%.The firm had revenue of $34.75 million for the quarter, compared to analyst estimates of $32.38 million. On average, sell-side analysts forecast that RBB Bancorp will post 2.35 EPS for the current year.
RBB Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, April 30th. RBB Bancorp's dividend payout ratio (DPR) is currently 27.12%.
Hedge Funds Weigh In On RBB Bancorp
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBB. Torren Management LLC purchased a new position in RBB Bancorp in the 4th quarter worth approximately $28,000. BNP Paribas Financial Markets increased its stake in RBB Bancorp by 84.9% in the second quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company's stock valued at $31,000 after acquiring an additional 835 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in RBB Bancorp during the fourth quarter valued at about $34,000. PNC Financial Services Group Inc. raised its position in RBB Bancorp by 75.3% during the third quarter. PNC Financial Services Group Inc. now owns 5,442 shares of the company's stock valued at $102,000 after purchasing an additional 2,337 shares in the last quarter. Finally, CWM LLC lifted its stake in RBB Bancorp by 95.8% during the third quarter. CWM LLC now owns 5,942 shares of the company's stock worth $111,000 after purchasing an additional 2,908 shares during the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of RBB Bancorp in a research report on Monday, April 27th. Wall Street Zen downgraded shares of RBB Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Hovde Group boosted their target price on RBB Bancorp from $23.00 to $26.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of RBB Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, RBB Bancorp has a consensus rating of "Hold" and a consensus price target of $23.33.
Check Out Our Latest Research Report on RBB Bancorp
RBB Bancorp Company Profile
(
Get Free Report)
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.
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