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

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

RBB Bancorp Price Performance

RBB stock traded down $0.15 during trading on Wednesday, hitting $18.95. 160,461 shares of the company's stock traded hands, compared to its average volume of 100,364. RBB Bancorp has a 52 week low of $14.40 and a 52 week high of $25.30. The stock has a market capitalization of $336.17 million, a price-to-earnings ratio of 14.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.07. The business has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $17.30.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $29.60 million. As a group, research analysts expect that RBB Bancorp will post 1.63 EPS for the current fiscal year.

RBB Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, May 29th that authorizes the company to repurchase $18.00 million in shares. This repurchase authorization authorizes the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

RBB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders 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 3.38%. The ex-dividend date is Thursday, July 31st. RBB Bancorp's payout ratio is 49.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in RBB Bancorp by 195.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the company's stock valued at $36,000 after buying an additional 1,149 shares during the last quarter. Wells Fargo & Company MN grew its position in RBB Bancorp by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 9,564 shares of the company's stock valued at $196,000 after buying an additional 1,925 shares during the last quarter. MetLife Investment Management LLC grew its position in RBB Bancorp by 14.9% in the 4th quarter. MetLife Investment Management LLC now owns 10,315 shares of the company's stock valued at $211,000 after buying an additional 1,336 shares during the last quarter. Squarepoint Ops LLC purchased a new position in RBB Bancorp in the 4th quarter valued at $215,000. Finally, Royal Bank of Canada lifted its holdings in RBB Bancorp by 20.4% in the first quarter. Royal Bank of Canada now owns 16,312 shares of the company's stock valued at $268,000 after acquiring an additional 2,762 shares during the period. Institutional investors and hedge funds own 40.14% of the company's stock.

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.