RBB Bancorp (NASDAQ:RBB) to Issue Quarterly Dividend of $0.16

RBB Bancorp (NASDAQ:RBB) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Wednesday, May 1st will be given 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 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 increased its dividend annually for the last 3 consecutive years. RBB Bancorp has a dividend payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. 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 %

NASDAQ RBB 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 company has a market capitalization of $331.99 million, a P/E ratio of 7.34 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 stock has a 50 day moving average price of $17.40 and a 200-day moving average price of $16.49.

RBB Bancorp (NASDAQ:RBB) last posted its earnings results on Monday, January 22nd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. The firm had revenue of $33.06 million during the quarter, compared to the consensus estimate of $27.60 million. RBB Bancorp had a return on equity of 8.36% and a net margin of 19.06%. As a group, equities analysts predict that RBB Bancorp will post 1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stephens restated an “equal weight” rating and set a $19.00 price target on shares of RBB Bancorp in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods increased their price target on RBB Bancorp from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Finally, TheStreet upgraded RBB Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, December 27th.

Insiders Place Their Bets

In other RBB Bancorp news, Director James Kao bought 2,000 shares of RBB Bancorp stock in a transaction on Wednesday, March 13th. The shares were acquired at an average price of $16.98 per share, for a total transaction of $33,960.00. Following the completion of the purchase, the director now directly owns 519,175 shares in the company, valued at approximately $8,815,591.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired a total of 35,977 shares of company stock worth $624,060 over the last quarter. Company insiders own 13.15% of the company’s stock.

Hedge Funds Weigh In On RBB Bancorp

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of RBB Bancorp by 15.0% during the second quarter. BlackRock Inc. now owns 1,161,004 shares of the company’s stock valued at $13,862,000 after buying an additional 151,140 shares during the period. Vanguard Group Inc. boosted its position in RBB Bancorp by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 737,947 shares of the company’s stock valued at $14,051,000 after purchasing an additional 18,951 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in RBB Bancorp by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 669,001 shares of the company’s stock valued at $10,370,000 after purchasing an additional 29,699 shares in the last quarter. Wellington Management Group LLP boosted its position in RBB Bancorp by 1.9% during the first quarter. Wellington Management Group LLP now owns 369,637 shares of the company’s stock valued at $8,684,000 after purchasing an additional 6,953 shares in the last quarter. Finally, State Street Corp boosted its position in RBB Bancorp by 3.6% during the second quarter. State Street Corp now owns 332,405 shares of the company’s stock valued at $3,969,000 after purchasing an additional 11,563 shares in the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.

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.