RBB Bancorp (NASDAQ:RBB) Announces Earnings Results, Beats Expectations By $0.06 EPS

RBB Bancorp (NASDAQ:RBB) posted its earnings results on Monday. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06, Zacks reports. RBB Bancorp had a net margin of 16.76% and a return on equity of 7.85%. The business had revenue of $33.10 million for the quarter, compared to analysts’ expectations of $33.17 million.

RBB Bancorp Stock Down 1.2%

RBB opened at $26.74 on Tuesday. The company has a market cap of $452.98 million, a P/E ratio of 11.33 and a beta of 1.03. The business’s 50-day moving average price is $25.28 and its 200-day moving average price is $23.10. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. RBB Bancorp has a 12 month low of $16.74 and a 12 month high of $28.24.

RBB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, July 31st. RBB Bancorp’s dividend payout ratio (DPR) is 27.12%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Hovde Group raised shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $26.00 to $29.00 in a report on Tuesday, June 16th. Zacks Research raised RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

RBB Bancorp declared that its Board of Directors has initiated a share buyback plan on Monday, June 15th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at RBB Bancorp

In other RBB Bancorp news, Director Chuang I. Lin sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $24.23, for a total value of $242,300.00. Following the completion of the sale, the director owned 51,347 shares in the company, valued at approximately $1,244,137.81. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Richard Morris sold 1,946 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $23.99, for a total value of $46,684.54. Following the sale, the director directly owned 43,422 shares of the company’s stock, valued at approximately $1,041,693.78. This trade represents a 4.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,814 shares of company stock worth $597,630 in the last ninety days. 6.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On RBB Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBB. BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 835 shares during the period. CANADA LIFE ASSURANCE Co bought a new position in RBB Bancorp in the 4th quarter worth $34,000. Public Employees Retirement System of Ohio lifted its position in shares of RBB Bancorp by 17.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock worth $124,000 after purchasing an additional 1,000 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of RBB Bancorp by 12.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,145 shares of the company’s stock valued at $127,000 after purchasing an additional 703 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of RBB Bancorp by 850.8% during the third quarter. Russell Investments Group Ltd. now owns 10,012 shares of the company’s stock valued at $188,000 after buying an additional 8,959 shares during the period. 40.14% of the stock is currently 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.