Stock Repurchase Plan Declared by RBB Bancorp (NASDAQ:RBB)

RBB Bancorp (NASDAQ:RBB - Get Free Report) announced that its Board of Directors has approved a share buyback program on Thursday, May 29th, RTT News reports. The company plans to repurchase $18.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

RBB Bancorp Trading Up 3.4%

Shares of NASDAQ:RBB traded up $0.56 during midday trading on Friday, hitting $16.98. 41,844 shares of the stock traded hands, compared to its average volume of 48,849. RBB Bancorp has a one year low of $14.40 and a one year high of $25.30. The stock has a market capitalization of $301.23 million, a PE ratio of 11.63 and a beta of 1.04. The business's 50 day moving average is $16.04 and its two-hundred day moving average is $18.67. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.25). The company had revenue of $28.46 million during the quarter, compared to analysts' expectations of $28.98 million. RBB Bancorp had a return on equity of 5.21% and a net margin of 11.49%. As a group, research analysts forecast that RBB Bancorp will post 1.63 earnings per share for the current year.

RBB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Wednesday, April 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.77%. RBB Bancorp's dividend payout ratio (DPR) is presently 55.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RBB shares. Piper Sandler dropped their price objective 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 objective on RBB Bancorp from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods reduced their target price on RBB Bancorp from $26.00 to $22.00 and set a "market perform" rating for the company in a research note on Friday, February 7th.

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.