RBB Bancorp (NASDAQ:RBB) Price Target Raised to $21.00 at Keefe, Bruyette & Woods

RBB Bancorp (NASDAQ:RBB - Free Report) had its target price hoisted by Keefe, Bruyette & Woods from $19.00 to $21.00 in a report released on Wednesday,Benzinga reports. The firm currently has a market perform rating on the stock.

RBB Bancorp Trading Down 1.5%

Shares of NASDAQ:RBB traded down $0.30 during midday trading on Wednesday, reaching $19.10. 110,474 shares of the company's stock were exchanged, compared to its average volume of 96,519. The stock has a market cap of $338.83 million, a price-to-earnings ratio of 14.81 and a beta of 1.05. RBB Bancorp has a fifty-two week low of $14.40 and a fifty-two week high of $25.30. The firm's 50 day simple moving average is $17.40 and its two-hundred day simple moving average is $17.32. 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 (NASDAQ:RBB - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.36 by $0.16. RBB Bancorp had a net margin of 9.80% and a return on equity of 4.52%. The firm had revenue of $35.81 million for the quarter, compared to analyst estimates of $29.60 million. As a group, sell-side analysts forecast that RBB Bancorp will post 1.63 EPS for the current fiscal year.

RBB Bancorp declared that its board has approved a stock buyback program on Thursday, May 29th that allows the company to repurchase $18.00 million in shares. This repurchase authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

RBB Bancorp Dividend Announcement

The firm 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. This represents a $0.64 annualized dividend and a yield of 3.35%. The ex-dividend date is Thursday, July 31st. RBB Bancorp's payout ratio is currently 49.61%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in RBB Bancorp during the first quarter worth approximately $482,000. Jane Street Group LLC grew its position in RBB Bancorp by 75.9% in the 1st quarter. Jane Street Group LLC now owns 28,823 shares of the company's stock valued at $476,000 after buying an additional 12,437 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of RBB Bancorp by 8.2% in the 1st quarter. Empowered Funds LLC now owns 60,331 shares of the company's stock worth $995,000 after acquiring an additional 4,571 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of RBB Bancorp by 6.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 53,678 shares of the company's stock worth $886,000 after acquiring an additional 3,417 shares during the period. Finally, FJ Capital Management LLC boosted its holdings in RBB Bancorp by 8.6% in the 1st quarter. FJ Capital Management LLC now owns 1,756,006 shares of the company's stock valued at $28,974,000 after purchasing an additional 139,163 shares in the last quarter. Hedge funds and other institutional investors own 40.14% of the company's stock.

RBB Bancorp Company Profile

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.