RBB Bancorp (NASDAQ:RBB) Issues Quarterly Earnings Results

RBB Bancorp (NASDAQ:RBB) released its earnings results on Monday. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.10, Zacks reports. RBB Bancorp had a return on equity of 6.21% and a net margin of 13.42%.The firm had revenue of $32.32 million during the quarter, compared to analysts’ expectations of $33.23 million.

RBB Bancorp Price Performance

Shares of NASDAQ RBB opened at $21.41 on Wednesday. The company has a market capitalization of $365.04 million, a PE ratio of 11.70 and a beta of 1.08. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. RBB Bancorp has a twelve month low of $14.40 and a twelve month high of $22.58. The firm has a fifty day simple moving average of $21.09 and a 200 day simple moving average of $19.73.

RBB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, January 30th. This represents a $0.64 annualized dividend and a yield of 3.0%. RBB Bancorp’s dividend payout ratio (DPR) is presently 34.97%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zacks Research cut shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of RBB Bancorp in a research note on Friday, October 31st. Piper Sandler boosted their target price on shares of RBB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen upgraded shares of RBB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Finally, Keefe, Bruyette & Woods increased their price target on RBB Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. boosted its position in shares of RBB Bancorp by 25.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 60,106 shares of the company’s stock valued at $1,128,000 after purchasing an additional 12,320 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of RBB Bancorp by 17.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock worth $124,000 after buying an additional 1,000 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of RBB Bancorp by 213.9% during the 3rd quarter. Millennium Management LLC now owns 64,005 shares of the company’s stock worth $1,201,000 after buying an additional 43,617 shares in the last quarter. Bank of America Corp DE grew its position in shares of RBB Bancorp by 231.2% during the 3rd quarter. Bank of America Corp DE now owns 31,002 shares of the company’s stock worth $582,000 after buying an additional 21,641 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of RBB Bancorp by 94.7% in the 3rd quarter. Two Sigma Investments LP now owns 54,809 shares of the company’s stock valued at $1,028,000 after acquiring an additional 26,662 shares in the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.

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.