RBB Bancorp (NASDAQ:RBB - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.16, Zacks reports. RBB Bancorp had a net margin of 9.16% and a return on equity of 4.10%.
RBB Bancorp Stock Down 0.1%
Shares of NASDAQ RBB traded down $0.01 during trading hours on Monday, hitting $18.25. The company had a trading volume of 89,774 shares, compared to its average volume of 48,364. RBB Bancorp has a 1-year low of $14.40 and a 1-year high of $25.30. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The firm's 50 day moving average is $17.24 and its 200-day moving average is $17.32. The stock has a market capitalization of $323.76 million, a P/E ratio of 15.73 and a beta of 1.05.
RBB Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, May 29th that allows the company to buyback $18.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Institutional Investors Weigh In On RBB Bancorp
A number of institutional investors have recently made changes to their positions in RBB. Empowered Funds LLC grew its position in RBB Bancorp by 8.2% during 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 in the last quarter. Jane Street Group LLC grew its holdings in shares of RBB Bancorp by 75.9% during the 1st quarter. Jane Street Group LLC now owns 28,823 shares of the company's stock worth $476,000 after purchasing an additional 12,437 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of 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 purchasing an additional 2,762 shares during the period. Institutional investors own 40.14% of the company's stock.
RBB Bancorp Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider RBB Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RBB Bancorp wasn't on the list.
While RBB Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
