RBB Bancorp (NASDAQ:RBB) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• RBB Bancorp has a “Moderate Buy” consensus rating from six analysts, split evenly between buy and hold recommendations, with an average 12-month price target of $25.50.
• The bank reported quarterly EPS of $0.59, beating estimates of $0.54, while revenue of $33.10 million was slightly below expectations. Analysts project full-year EPS of $2.37.
• RBB authorized a 1 million-share stock buyback and announced a quarterly dividend of $0.16 per share, equivalent to a 2.4% annualized yield.

Shares of RBB Bancorp (NASDAQ:RBB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $25.50.

RBB has been the topic of several analyst reports. Zacks Research downgraded shares of RBB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of RBB Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 21st. Stephens raised their target price on RBB Bancorp from $26.00 to $29.00 and gave the company a "positive" rating in a research note on Thursday, July 23rd. Finally, Hovde Group raised RBB Bancorp from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $26.00 to $29.00 in a research report on Tuesday, June 16th.

RBB Bancorp Stock Down 0.4%

Shares of NASDAQ:RBB opened at $26.26 on Friday. The company has a market capitalization of $444.74 million, a price-to-earnings ratio of 10.81 and a beta of 1.03. The company has a 50 day moving average of $25.76 and a two-hundred day moving average of $23.42. RBB Bancorp has a 52-week low of $16.74 and a 52-week high of $28.24. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.50.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last posted its earnings results on Monday, July 20th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. The business had revenue of $33.10 million for the quarter, compared to analysts' expectations of $33.17 million. RBB Bancorp had a net margin of 17.26% and a return on equity of 7.99%. As a group, analysts forecast that RBB Bancorp will post 2.37 earnings per share for the current fiscal year.

RBB Bancorp announced that its board has initiated a stock repurchase program on Monday, June 15th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

RBB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, July 31st. RBB Bancorp's dividend payout ratio (DPR) is 26.34%.

Insider Buying and Selling at RBB Bancorp

In other RBB Bancorp news, EVP Gary Fan sold 2,368 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.01, for a total value of $56,855.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Chuang I. Lin sold 10,000 shares of RBB Bancorp stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $24.23, for a total transaction of $242,300.00. Following the completion of the sale, the director owned 51,347 shares of the company's stock, valued at approximately $1,244,137.81. This trade represents a 16.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,814 shares of company stock valued at $453,390 in the last three months. Corporate insiders own 6.78% of the company's stock.

Institutional Investors Weigh In On RBB Bancorp

A number of institutional investors have recently modified their holdings of RBB. Hillsdale Investment Management Inc. bought a new position in shares of RBB Bancorp during the fourth quarter worth about $3,084,000. North Reef Capital Management LP bought a new stake in RBB Bancorp in the first quarter valued at about $1,371,000. GSA Capital Partners LLP increased its holdings in RBB Bancorp by 224.7% in the fourth quarter. GSA Capital Partners LLP now owns 39,576 shares of the company's stock valued at $817,000 after buying an additional 27,386 shares during the last quarter. Azora Capital LP acquired a new stake in RBB Bancorp during the fourth quarter valued at approximately $638,000. Finally, Rhino Investment Partners Inc raised its stake in RBB Bancorp by 9.4% during the first quarter. Rhino Investment Partners Inc now owns 338,810 shares of the company's stock valued at $7,240,000 after buying an additional 29,070 shares in the last quarter. Institutional investors and hedge funds own 40.14% of the company's stock.

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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