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

RBB Bancorp (NASDAQ:RBB - Get Free Report) announced a quarterly dividend on Thursday, July 17th, RTT News reports. Stockholders of record on Thursday, July 31st will be paid a dividend of 0.16 per share on Tuesday, August 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, July 31st.

RBB Bancorp has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect RBB Bancorp to earn $1.92 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 33.3%.

RBB Bancorp Trading Down 0.1%

Shares of NASDAQ:RBB traded down $0.02 during mid-day trading on Thursday, reaching $19.38. 45,177 shares of the company were exchanged, compared to its average volume of 48,238. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07. RBB Bancorp has a 1 year low of $14.40 and a 1 year high of $25.30. The firm has a market cap of $343.80 million, a price-to-earnings ratio of 15.02 and a beta of 1.05. The firm's 50-day simple moving average is $17.36 and its 200 day simple moving average is $17.33.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.16. The business had revenue of $35.81 million during the quarter, compared to analysts' expectations of $29.60 million. RBB Bancorp had a net margin of 9.80% and a return on equity of 4.52%. Equities research analysts forecast that RBB Bancorp will post 1.63 EPS for the current year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price target on shares of RBB Bancorp from $19.00 to $21.00 and gave the stock a "market perform" rating in a research note on Wednesday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of RBB Bancorp by 20.4% during the first quarter. Royal Bank of Canada now owns 16,312 shares of the company's stock worth $268,000 after acquiring an additional 2,762 shares during the period. Empowered Funds LLC increased its stake in shares of RBB Bancorp by 8.2% during the first quarter. Empowered Funds LLC now owns 60,331 shares of the company's stock worth $995,000 after acquiring an additional 4,571 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of RBB Bancorp by 75.9% during the first quarter. Jane Street Group LLC now owns 28,823 shares of the company's stock worth $476,000 after acquiring an additional 12,437 shares during the period. 40.14% of the stock is currently owned by institutional investors and hedge funds.

RBB Bancorp announced that its Board of Directors has approved a stock buyback program on Thursday, May 29th that authorizes the company to buyback $18.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.