RBB Bancorp (NASDAQ:RBB) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• RBB Bancorp has a “Moderate Buy” consensus from six analysts, split evenly between three buy ratings and three holds, with an average 12-month price target of $25.50.
• The company’s latest quarterly earnings exceeded expectations, reporting $0.59 in EPS versus a $0.54 consensus, while revenue came in at $33.10 million.
• RBB Bancorp attracted new institutional investment, with institutional holders owning 40.14% of shares, and authorized a 1 million-share buyback. It also pays a quarterly dividend of $0.16 per share, yielding approximately 2.4% annually.

Shares of RBB Bancorp (NASDAQ:RBB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.50.

Several research analysts have recently issued reports on the company. Weiss Ratings raised RBB Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 21st. Hovde Group upgraded shares of RBB Bancorp from a "market perform" rating to an "outperform" rating and upped their price target for the company from $26.00 to $29.00 in a research report on Tuesday, June 16th. Zacks Research downgraded shares of RBB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Finally, Stephens lifted their price target on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a "positive" rating in a report on Thursday, July 23rd.

Institutional Trading of RBB Bancorp

Several hedge funds have recently modified their holdings of RBB. Hillsdale Investment Management Inc. bought a new position in RBB Bancorp during the 4th quarter valued at $3,084,000. North Reef Capital Management LP bought a new stake in shares of RBB Bancorp in the 1st quarter worth $1,371,000. BlackRock Inc. purchased a new stake in shares of RBB Bancorp in the second quarter valued at about $35,424,000. Walleye Capital LLC purchased a new stake in shares of RBB Bancorp in the second quarter valued at about $1,256,000. Finally, Algert Global LLC bought a new position in shares of RBB Bancorp during the second quarter valued at about $4,283,000. Institutional investors own 40.14% of the company's stock.

RBB Bancorp Trading Up 0.1%

Shares of RBB stock opened at $26.70 on Friday. RBB Bancorp has a twelve month low of $16.74 and a twelve month high of $28.24. The stock's fifty day simple moving average is $26.72 and its 200 day simple moving average is $24.66. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $451.76 million, a P/E ratio of 10.99 and a beta of 1.02.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last posted its earnings results on Monday, July 20th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. The firm had revenue of $33.10 million during the quarter, compared to the consensus estimate of $33.17 million. RBB Bancorp had a return on equity of 7.94% and a net margin of 17.26%. As a group, sell-side analysts predict that RBB Bancorp will post 2.37 EPS for the current fiscal year.

RBB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were given a dividend of $0.16 per share. The ex-dividend date was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. RBB Bancorp's dividend payout ratio is 26.34%.

RBB Bancorp announced that its Board of Directors has authorized a share buyback program on Monday, June 15th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

About RBB Bancorp

RBB Bancorp is a bank holding company headquartered in Los Angeles, California. Through its principal subsidiary, Royal Business Bank, the company provides banking services to businesses, professionals, entrepreneurs and individuals, with a focus on serving small and mid-sized businesses and Asian-American communities.

Royal Business Bank offers commercial and industrial loans, commercial real estate financing, residential mortgage loans, Small Business Administration lending, construction loans and other credit products.

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