Hovde Group Begins Coverage on RBB Bancorp (NASDAQ:RBB)

Hovde Group assumed coverage on shares of RBB Bancorp (NASDAQ:RBB) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm issued a market perform rating and a $19.00 price target on the stock.

Several other research analysts have also recently issued reports on the company. Stephens reaffirmed an equal weight rating and set a $19.00 price objective on shares of RBB Bancorp in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods upped their price objective on RBB Bancorp from $18.00 to $20.00 and gave the stock a market perform rating in a research report on Wednesday, January 24th. Finally, TheStreet raised RBB Bancorp from a c+ rating to a b- rating in a research report on Wednesday, December 27th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, RBB Bancorp has an average rating of Hold and an average target price of $18.50.

RBB Bancorp Price Performance

RBB stock opened at $18.07 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $336.50 million, a PE ratio of 8.11 and a beta of 0.96. RBB Bancorp has a 12-month low of $8.62 and a 12-month high of $20.22. The business’s fifty day moving average price is $17.43 and its 200 day moving average price is $16.64.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. RBB Bancorp had a return on equity of 7.74% and a net margin of 17.69%. The firm had revenue of $58.17 million for the quarter, compared to the consensus estimate of $27.40 million. During the same quarter in the previous year, the business earned $0.58 EPS. On average, sell-side analysts anticipate that RBB Bancorp will post 1.47 EPS for the current year.

RBB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Wednesday, May 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Tuesday, April 30th. RBB Bancorp’s payout ratio is currently 28.07%.

Insider Activity at RBB Bancorp

In related news, Director James Kao bought 5,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were purchased at an average price of $17.02 per share, for a total transaction of $85,100.00. Following the acquisition, the director now owns 485,376 shares in the company, valued at $8,261,099.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 35,977 shares of company stock valued at $624,060 in the last ninety days. Corporate insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Several hedge funds have recently made changes to their positions in RBB. AJOVista LLC purchased a new position in RBB Bancorp in the fourth quarter valued at about $59,000. Allspring Global Investments Holdings LLC raised its position in RBB Bancorp by 36.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock valued at $44,000 after purchasing an additional 929 shares during the period. New York State Common Retirement Fund raised its position in RBB Bancorp by 101.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock valued at $170,000 after purchasing an additional 4,503 shares during the period. SG Americas Securities LLC purchased a new position in RBB Bancorp in the fourth quarter valued at about $177,000. Finally, Quadrature Capital Ltd purchased a new position in RBB Bancorp in the third quarter valued at about $138,000. 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.