RBB Bancorp (RBB) Sets New 1-Year High and Low at $32.89

RBB Bancorp (NASDAQ:RBB) shares hit a new 52-week high and low during trading on Thursday . The company traded as low as $32.89 and last traded at $32.61, with a volume of 2602 shares changing hands. The stock had previously closed at $32.40.

A number of research analysts have recently commented on RBB shares. Zacks Investment Research lowered RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 28th. Stephens reaffirmed a “buy” rating and issued a $31.00 target price on shares of RBB Bancorp in a report on Tuesday, April 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $35.00 target price on shares of RBB Bancorp in a report on Tuesday, April 24th.

The firm has a market cap of $523.43 million and a PE ratio of 18.01. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 0.19.

RBB Bancorp (NASDAQ:RBB) last released its earnings results on Monday, April 23rd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. The firm had revenue of $18.90 million for the quarter. RBB Bancorp had a return on equity of 12.43% and a net margin of 31.83%. equities research analysts predict that RBB Bancorp will post 2.07 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th were issued a $0.09 dividend. The ex-dividend date was Friday, April 27th. This represents a $0.36 dividend on an annualized basis and a yield of 1.10%. This is a positive change from RBB Bancorp’s previous quarterly dividend of $0.08. RBB Bancorp’s dividend payout ratio (DPR) is 19.78%.

In other RBB Bancorp news, EVP Tsu Te Huang sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $29.27, for a total value of $117,080.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yee Phong Thian sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $27.50, for a total value of $4,125,000.00. The disclosure for this sale can be found here. Insiders sold a total of 219,940 shares of company stock worth $6,032,084 in the last ninety days. Insiders own 27.42% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in shares of RBB Bancorp by 104.0% in the 1st quarter. California State Teachers Retirement System now owns 12,443 shares of the company’s stock worth $328,000 after acquiring an additional 6,343 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of RBB Bancorp by 496.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,000 shares of the company’s stock worth $184,000 after acquiring an additional 5,827 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of RBB Bancorp in the 1st quarter worth approximately $744,000. New York State Common Retirement Fund bought a new stake in shares of RBB Bancorp in the 1st quarter worth approximately $145,000. Finally, Matarin Capital Management LLC bought a new position in shares of RBB Bancorp during the 1st quarter worth approximately $393,000. Institutional investors own 28.56% of the company’s stock.

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 communities. Its deposit products include checking, savings, and money market accounts; and certificates of deposits. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.

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Foxconn Launches Investigation After Reports Of Harsh Working Conditions At Its Factory Foxconn has announced that it has launched investigations into allegations of harsh working conditions at its factory. The company made the announcement after China Labor Watch, which is based in the New York, published a report that indicated Amazon’s workers were being subjected to many hours of work, inadequate training, low wages as well as over dependence on temporary workers. Undercover investigation Before compiling the report, an investigator from China Labor Watch went underground and acted as a worker in the factory. He then interviewed 20 workers, as well as took time to observe the conditions. During the period of investigation, the undercover investigator secured a position in the factory to clean Echo Dot speakers using a toothbrush soaked in rubbing alcohol to remove dust. In its investigation, China Labor Watch said around 40% of the employees at the factory were on temporary basis. This is far beyond the 10% that is legally allowed under the Chinese law. Additionally, the investigation also found out that dispatch employees were paid at the same rate for both regular and overtime hours. According to the investigation, the company was paying dispatch workers $2.26 per hour. Additionally, workers were working over 100 hours in over time every month during peak season. This is way beyond the 36 hours of overtime allowed under the law. Additionally, some workers worked for 14 consecutive days. Amazon’s audit In its response, Amazon said it carried out an audit of the factory and found that dispatch workers and overtime are matters of great concern. Amazon in a statement, said following the revelation, it requested Foxconn to put in place a corrective plan. Amazon said it is currently monitoring the response from Foxconn as well as the compliance with its Supplier Code of Conduct. Amazon expressed its commitment to ensuring that the matter is fully resolved. Echo Speakers Amazon, which is the largest online retailer in the world, sells a variety of devices. The company uses tablets and kindles to sell more digital books. Foxconn, which is based in Taiwan is the largest manufacturer of contract electronics in the world and has a headcount of over a million people. The company, which makes Apple iPhones made headlines following as series of suicides at its plant. The suicides were linked to poor working conditions at the plant to which the company responded with a promise to improve the working conditions.

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