RBB Bancorp (NASDAQ:RBB) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• RBB Bancorp has a consensus analyst rating of "Hold" from five firms, with an average 1‑year target price of $23.33; Hovde raised its target to $26 and rated the stock "market perform".
• In its latest quarter RBB reported EPS of $0.66 versus $0.45 expected and revenue of $34.75M versus $32.38M expected, indicating a stronger-than-expected quarter and projected 2024 EPS of 2.07.
• The company declared a quarterly dividend of $0.16 (annualized $0.64), implying a 2.6% dividend yield and a payout ratio of about 35%.

RBB Bancorp (NASDAQ:RBB - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating. The average 1-year target price among brokers that have covered the stock in the last year is $23.3333.

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of RBB Bancorp in a research report on Wednesday, January 28th. Wall Street Zen cut RBB Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Hovde Group boosted their target price on RBB Bancorp from $23.00 to $26.00 and gave the stock a "market perform" rating in a research report on Wednesday.

RBB Bancorp Stock Performance

NASDAQ RBB opened at $24.18 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $21.78 and its two-hundred day moving average is $20.79. RBB Bancorp has a 12-month low of $14.66 and a 12-month high of $24.73. The stock has a market capitalization of $412.75 million, a price-to-earnings ratio of 10.25 and a beta of 1.04.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last released its earnings results on Monday, April 20th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.21. RBB Bancorp had a return on equity of 7.90% and a net margin of 16.76%.The company had revenue of $34.75 million for the quarter, compared to analysts' expectations of $32.38 million. Research analysts expect that RBB Bancorp will post 2.07 EPS for the current year.

RBB Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be issued a $0.16 dividend. The ex-dividend date is Thursday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.6%. RBB Bancorp's dividend payout ratio is currently 34.97%.

Institutional Investors Weigh In On RBB Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Torren Management LLC acquired a new stake in shares of RBB Bancorp in the 4th quarter worth approximately $28,000. BNP Paribas Financial Markets grew its holdings in shares of RBB Bancorp by 84.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company's stock worth $31,000 after acquiring an additional 835 shares during the period. CANADA LIFE ASSURANCE Co acquired a new stake in shares of RBB Bancorp in the 4th quarter worth approximately $34,000. PNC Financial Services Group Inc. grew its holdings in shares of RBB Bancorp by 75.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,442 shares of the company's stock worth $102,000 after acquiring an additional 2,337 shares during the period. Finally, CWM LLC grew its holdings in shares of RBB Bancorp by 95.8% in the 3rd quarter. CWM LLC now owns 5,942 shares of the company's stock worth $111,000 after acquiring an additional 2,908 shares during the period. Institutional investors and hedge funds own 40.14% of the company's stock.

RBB Bancorp Company Profile

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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