RBB Bancorp (NASDAQ:RBB) Director David Richard Morris Sells 4,500 Shares

Key Points

• RBB Bancorp director David Richard Morris sold 4,500 shares on May 4 at an average price of $23.90 for $107,550, reducing his stake by 9.39% to 43,422 shares.
• The company beat expectations in Q1 with EPS of $0.66 versus $0.45 expected and revenue of $34.75M versus $32.38M, and announced a quarterly dividend of $0.16 (annualized $0.64, yield 2.7%), ex-dividend April 30 and payable May 15.
• Shares traded up about 1% to $24.14, valuing RBB at ~$412M with a P/E of 10.23 and a 52-week range of $14.66–$24.73; analysts maintain a consensus Hold and an average target of $23.33.

RBB Bancorp (NASDAQ:RBB - Get Free Report) Director David Richard Morris sold 4,500 shares of RBB Bancorp stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.90, for a total value of $107,550.00. Following the transaction, the director owned 43,422 shares of the company's stock, valued at $1,037,785.80. This trade represents a 9.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

RBB Bancorp Stock Up 1.0%

RBB stock traded up $0.25 during mid-day trading on Tuesday, reaching $24.14. 40,381 shares of the company traded hands, compared to its average volume of 71,983. The stock has a market cap of $412.17 million, a price-to-earnings ratio of 10.23 and a beta of 1.07. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. RBB Bancorp has a fifty-two week low of $14.66 and a fifty-two week high of $24.73. The firm's 50 day moving average price is $22.08 and its 200 day moving average price is $21.14.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last released its quarterly earnings results on Monday, April 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.21. The business had revenue of $34.75 million during the quarter, compared to the consensus estimate of $32.38 million. RBB Bancorp had a return on equity of 7.90% and a net margin of 16.76%. As a group, equities research analysts predict that RBB Bancorp will post 2.35 EPS for the current fiscal year.

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, April 30th. RBB Bancorp's dividend payout ratio is presently 27.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research raised RBB Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Weiss Ratings reissued a "hold (c)" rating on shares of RBB Bancorp in a research report on Monday, April 27th. Wall Street Zen downgraded shares of RBB Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Hovde Group upped their price objective on shares of RBB Bancorp from $23.00 to $26.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, RBB Bancorp has a consensus rating of "Hold" and an average target price of $23.33.

Institutional Trading of RBB Bancorp

A number of large investors have recently bought and sold shares of RBB. Royal Bank of Canada increased its position in RBB Bancorp by 20.4% in the first quarter. Royal Bank of Canada now owns 16,312 shares of the company's stock worth $268,000 after buying an additional 2,762 shares during the last quarter. Empowered Funds LLC increased its position in RBB Bancorp by 8.2% in the first quarter. Empowered Funds LLC now owns 60,331 shares of the company's stock worth $995,000 after buying an additional 4,571 shares during the last quarter. Jane Street Group LLC increased its position in RBB Bancorp by 75.9% in the first quarter. Jane Street Group LLC now owns 28,823 shares of the company's stock worth $476,000 after buying an additional 12,437 shares during the last quarter. Geode Capital Management LLC increased its position in RBB Bancorp by 4.2% in the second quarter. Geode Capital Management LLC now owns 362,884 shares of the company's stock worth $6,246,000 after buying an additional 14,751 shares during the last quarter. Finally, First Trust Advisors LP increased its position in RBB Bancorp by 5.0% in the second quarter. First Trust Advisors LP now owns 11,647 shares of the company's stock worth $200,000 after buying an additional 555 shares during the last quarter. 40.14% of the stock is owned by hedge funds and other institutional investors.

RBB Bancorp Company Profile

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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