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

Key Points

• RBB Bancorp declared a quarterly dividend of $0.16 per share, payable on August 11 to shareholders of record on July 31. The dividend implies an annualized yield of about 2.4%.
• The company’s dividend appears well covered, with a 34.6% payout ratio and analyst estimates suggesting next year’s earnings should support continued payments at an expected payout ratio of 25.5%.
• RBB recently beat earnings expectations, reporting $0.59 EPS versus the $0.53 consensus, while analysts currently rate the stock a Moderate Buy with a consensus price target of $24.33.

RBB Bancorp (NASDAQ:RBB - Get Free Report) declared a quarterly dividend on Monday, July 20th. Investors of record on Friday, July 31st will be given a dividend of 0.16 per share on Tuesday, August 11th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, July 31st.

RBB Bancorp has raised its dividend payment by an average of 0.1%annually over the last three years. RBB Bancorp has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect RBB Bancorp to earn $2.51 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 25.5%.

RBB Bancorp Stock Performance

Shares of RBB opened at $26.74 on Tuesday. The stock has a market capitalization of $452.98 million, a P/E ratio of 11.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.06. RBB Bancorp has a 1 year low of $16.74 and a 1 year high of $28.24. The company's fifty day moving average is $25.28 and its two-hundred day moving average is $23.10.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last released its earnings results on Monday, July 20th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The company had revenue of $33.10 million during the quarter, compared to analysts' expectations of $33.17 million. RBB Bancorp had a net margin of 16.76% and a return on equity of 7.85%. On average, sell-side analysts predict that RBB Bancorp will post 2.36 earnings per share for the current year.

Analyst Ratings Changes

RBB has been the subject of a number of recent analyst reports. Hovde Group upgraded shares of RBB Bancorp from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $26.00 to $29.00 in a research report on Tuesday, June 16th. Zacks Research upgraded RBB Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised RBB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RBB Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

About RBB Bancorp

RBB Bancorp is a bank holding company headquartered in Los Angeles, California, and the parent of Royal Business Bank. Established in 2008, the company focuses on providing a full range of commercial banking services tailored to small- and medium-sized businesses, professionals and real estate investors. Through its subsidiary, RBB Bancorp delivers deposit products, loan facilities and cash management solutions designed to support operations and growth strategies.

The company's core offerings include commercial real estate lending, construction and land development loans, Small Business Administration (SBA) lending and trade finance.

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