RBB Bancorp (NASDAQ:RBB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• RBB Bancorp now has a consensus analyst rating of “Moderate Buy” from five brokerages, with an average 12-month price target of $23.33. Recent analyst moves were mixed, including upgrades from Zacks Research and Weiss Ratings.
• The company reported stronger-than-expected quarterly earnings, posting EPS of $0.66 versus the expected $0.45 and revenue of $34.75 million versus estimates of $32.38 million. Analysts expect full-year EPS of about $2.35.
• RBB Bancorp also declared a quarterly dividend of $0.16 per share, or $0.64 annually, for a yield of 2.8%. The payout ratio is relatively low at 27.12%, while insiders have recently sold shares and institutional ownership remains significant at 40.14%.

Shares of RBB Bancorp (NASDAQ:RBB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $23.3333.

Several analysts recently issued reports on the company. Zacks Research raised RBB Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Weiss Ratings raised RBB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Hovde Group lifted their target price on RBB Bancorp from $23.00 to $26.00 and gave the company a "market perform" rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen downgraded RBB Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st.

RBB Bancorp Stock Down 1.8%

NASDAQ RBB opened at $22.93 on Friday. The stock's 50-day moving average price is $22.35 and its 200-day moving average price is $21.42. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.50. RBB Bancorp has a 52 week low of $15.94 and a 52 week high of $24.73. The company has a market capitalization of $388.43 million, a P/E ratio of 9.72 and a beta of 1.07.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its earnings results on Monday, April 20th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.21. The company had revenue of $34.75 million for the quarter, compared to the consensus estimate of $32.38 million. RBB Bancorp had a return on equity of 7.85% and a net margin of 16.76%. On average, equities research analysts predict that RBB Bancorp will post 2.35 earnings per share for the current year.

RBB Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, April 30th. RBB Bancorp's dividend payout ratio (DPR) is currently 27.12%.

Insider Transactions at RBB Bancorp

In other news, EVP Gary Fan sold 6,000 shares of RBB Bancorp stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $24.04, for a total value of $144,240.00. Following the completion of the transaction, the executive vice president owned 1,437 shares in the company, valued at approximately $34,545.48. The trade was a 80.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Richard Morris sold 4,500 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $23.90, for a total value of $107,550.00. Following the transaction, the director owned 43,422 shares of the company's stock, valued at approximately $1,037,785.80. The trade was a 9.39% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,500 shares of company stock worth $494,090. 6.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RBB Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in RBB Bancorp by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 830,214 shares of the company's stock worth $17,742,000 after purchasing an additional 16,695 shares in the last quarter. Geode Capital Management LLC raised its holdings in RBB Bancorp by 4.2% in the second quarter. Geode Capital Management LLC now owns 362,884 shares of the company's stock worth $6,246,000 after purchasing an additional 14,751 shares in the last quarter. State Street Corp raised its holdings in RBB Bancorp by 0.5% in the fourth quarter. State Street Corp now owns 320,706 shares of the company's stock worth $6,619,000 after purchasing an additional 1,550 shares in the last quarter. Rhino Investment Partners Inc raised its holdings in RBB Bancorp by 3.4% in the third quarter. Rhino Investment Partners Inc now owns 253,190 shares of the company's stock worth $4,750,000 after purchasing an additional 8,317 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in RBB Bancorp by 48.2% in the first quarter. Hillsdale Investment Management Inc. now owns 221,400 shares of the company's stock worth $4,731,000 after purchasing an additional 72,000 shares in the last quarter. 40.14% of the stock is owned by institutional investors.

About RBB Bancorp

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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