RBB Bancorp (NASDAQ:RBB) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

RBB Bancorp (NASDAQ:RBB - Get Free Report) posted its earnings results on Monday. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.16, Zacks reports. RBB Bancorp had a net margin of 9.80% and a return on equity of 4.52%. The company had revenue of $35.81 million for the quarter, compared to analysts' expectations of $29.60 million.

RBB Bancorp Stock Down 1.5%

Shares of RBB stock traded down $0.30 during trading hours on Thursday, reaching $19.10. 110,474 shares of the stock were exchanged, compared to its average volume of 96,519. The business's fifty day moving average is $17.36 and its two-hundred day moving average is $17.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07. RBB Bancorp has a 12-month low of $14.40 and a 12-month high of $25.30. The firm has a market capitalization of $338.83 million, a P/E ratio of 14.81 and a beta of 1.05.

RBB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Thursday, July 31st will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.35%. RBB Bancorp's payout ratio is 49.61%.

RBB Bancorp announced that its board has authorized a share buyback program on Thursday, May 29th that permits the company 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 programs are usually a sign that the company's board believes its shares are undervalued.

Institutional Trading of RBB Bancorp

A number of large investors have recently made changes to their positions in RBB. Royal Bank of Canada grew its position in shares of RBB Bancorp by 20.4% during the first quarter. Royal Bank of Canada now owns 16,312 shares of the company's stock worth $268,000 after acquiring an additional 2,762 shares during the last quarter. Jane Street Group LLC lifted its holdings in RBB Bancorp by 75.9% in the first quarter. Jane Street Group LLC now owns 28,823 shares of the company's stock valued at $476,000 after acquiring an additional 12,437 shares during the period. Finally, Empowered Funds LLC lifted its holdings in RBB Bancorp by 8.2% in the first quarter. Empowered Funds LLC now owns 60,331 shares of the company's stock valued at $995,000 after acquiring an additional 4,571 shares during the period. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on shares of RBB Bancorp from $19.00 to $21.00 and gave the company a "market perform" rating in a research note on Wednesday.

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.