RBB Bancorp (NASDAQ:RBB - Get Free Report) declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 29th, RTT News reports. The company plans to buyback $18.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
RBB Bancorp Stock Up 1.3%
Shares of NASDAQ:RBB traded up $0.22 during trading hours on Tuesday, hitting $16.89. The company's stock had a trading volume of 4,966 shares, compared to its average volume of 48,602. The firm's fifty day moving average price is $16.04 and its 200 day moving average price is $18.57. RBB Bancorp has a 52 week low of $14.40 and a 52 week high of $25.30. The company has a market capitalization of $299.63 million, a price-to-earnings ratio of 11.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11.
RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.25). RBB Bancorp had a return on equity of 5.21% and a net margin of 11.49%. The business had revenue of $28.46 million during the quarter, compared to the consensus estimate of $28.98 million. As a group, research analysts expect that RBB Bancorp will post 1.63 EPS for the current year.
RBB Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Wednesday, April 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Wednesday, April 30th. RBB Bancorp's payout ratio is currently 55.17%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on RBB shares. Piper Sandler reduced their target price on RBB Bancorp from $23.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Stephens lowered their price target on RBB Bancorp from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods reduced their price objective on RBB Bancorp from $26.00 to $22.00 and set a "market perform" rating on the stock in a report on Friday, February 7th.
View Our Latest Analysis on RBB
RBB Bancorp Company Profile
(
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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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