RBB Bancorp (NASDAQ:RBB) Declares $0.16 Quarterly Dividend

RBB Bancorp (NASDAQ:RBB) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Tuesday, April 30th.

RBB Bancorp has increased its dividend payment by an average of 24.7% per year over the last three years and has raised its dividend every year for the last 3 years. RBB Bancorp has a payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Equities research 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 RBB stock opened at $17.83 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50-day moving average is $17.40 and its 200-day moving average is $16.49. The stock has a market cap of $331.99 million, a price-to-earnings ratio of 7.34 and a beta of 0.96. RBB Bancorp has a 52-week low of $8.62 and a 52-week high of $20.22.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other RBB Bancorp news, Director James Kao bought 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of $16.95 per share, for a total transaction of $67,800.00. Following the transaction, the director now directly owns 505,376 shares in the company, valued at approximately $8,566,123.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 35,977 shares of company stock worth $624,060 in the last quarter. Corporate insiders own 13.15% of the company’s stock.

Institutional Trading of RBB Bancorp

Several large investors have recently made changes to their positions in RBB. UBS Group AG acquired a new stake in RBB Bancorp in the third quarter valued at approximately $26,000. Tower Research Capital LLC TRC boosted its position in RBB Bancorp by 169.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,726 shares of the company’s stock valued at $26,000 after buying an additional 1,086 shares in the last quarter. FMR LLC boosted its position in RBB Bancorp by 281.2% in the first quarter. FMR LLC now owns 2,836 shares of the company’s stock valued at $44,000 after buying an additional 2,092 shares in the last quarter. Citigroup Inc. boosted its position in RBB Bancorp by 10,322.4% in the second quarter. Citigroup Inc. now owns 5,107 shares of the company’s stock valued at $61,000 after buying an additional 5,058 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in RBB Bancorp by 145.4% in the second quarter. Wells Fargo & Company MN now owns 6,373 shares of the company’s stock valued at $76,000 after buying an additional 3,776 shares in the last quarter. Institutional investors and hedge funds 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.