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

RBB Bancorp (NASDAQ:RBB - Get Free Report) announced a quarterly dividend on Monday, July 21st, RTT News reports. Shareholders 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 yield of 3.51%.

RBB Bancorp has a payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

RBB Bancorp stock traded down $0.01 during midday trading on Monday, reaching $18.25. 89,794 shares of the stock were exchanged, compared to its average volume of 48,365. The company's fifty day moving average is $17.24 and its 200-day moving average is $17.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $323.76 million, a PE ratio of 15.73 and a beta of 1.05. RBB Bancorp has a 52 week low of $14.40 and a 52 week high of $25.30.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last posted its earnings results on Monday, July 21st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.36 by $0.16. RBB Bancorp had a net margin of 9.16% and a return on equity of 4.10%. On average, sell-side analysts forecast that RBB Bancorp will post 1.63 EPS for the current year.

Hedge Funds Weigh In On RBB Bancorp

Several hedge funds have recently modified their holdings of RBB. Empowered Funds LLC raised its holdings in shares of RBB Bancorp by 8.2% during the 1st 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. Jane Street Group LLC increased its position in shares of RBB Bancorp by 75.9% during the 1st quarter. Jane Street Group LLC now owns 28,823 shares of the company's stock worth $476,000 after purchasing an additional 12,437 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of RBB Bancorp by 20.4% during the 1st quarter. Royal Bank of Canada now owns 16,312 shares of the company's stock worth $268,000 after purchasing an additional 2,762 shares during the last quarter. Institutional investors and hedge funds own 40.14% of the company's stock.

RBB Bancorp declared that its board has initiated a share repurchase program on Thursday, May 29th that allows the company to repurchase $18.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

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.

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