RBB Bancorp (NASDAQ:RBB) Price Target Lowered to $22.00 at Keefe, Bruyette & Woods

RBB Bancorp (NASDAQ:RBB) had its price objective decreased by Keefe, Bruyette & Woods from $26.00 to $22.00 in a research note published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other brokerages have also recently commented on RBB. Piper Sandler reduced their target price on RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Stephens reduced their target price on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th.

RBB Bancorp Trading Down 2.0 %

Shares of RBB Bancorp stock opened at $18.57 on Friday. The company’s fifty day simple moving average is $20.81 and its 200-day simple moving average is $22.16. The company has a market cap of $328.50 million, a price-to-earnings ratio of 12.72 and a beta of 0.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66. RBB Bancorp has a 1 year low of $16.54 and a 1 year high of $25.30.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.21% and a net margin of 11.49%. As a group, sell-side analysts expect that RBB Bancorp will post 1.62 EPS for the current year.

RBB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.45%. RBB Bancorp’s payout ratio is presently 43.84%.

Insider Buying and Selling at RBB Bancorp

In other news, CEO David Richard Morris sold 9,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total value of $224,010.00. Following the completion of the sale, the chief executive officer now directly owns 37,722 shares in the company, valued at approximately $938,900.58. This trade represents a 19.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gary Fan sold 12,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $23.45, for a total value of $281,400.00. The disclosure for this sale can be found here. Company insiders own 6.63% of the company’s stock.

Institutional Trading of RBB Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zacks Investment Management acquired a new stake in RBB Bancorp in the third quarter worth about $1,208,000. JPMorgan Chase & Co. increased its position in RBB Bancorp by 572.2% in the third quarter. JPMorgan Chase & Co. now owns 50,264 shares of the company’s stock worth $1,157,000 after purchasing an additional 42,786 shares during the period. Barclays PLC increased its position in RBB Bancorp by 285.6% in the third quarter. Barclays PLC now owns 21,477 shares of the company’s stock worth $495,000 after purchasing an additional 15,907 shares during the period. AQR Capital Management LLC acquired a new stake in RBB Bancorp in the second quarter worth about $244,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in RBB Bancorp in the third quarter worth about $295,000. 40.14% of the stock is currently owned by institutional investors and hedge funds.

RBB Bancorp Company Profile

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.