RBB Bancorp to Issue Quarterly Dividend of $0.16 (NASDAQ:RBB)

RBB Bancorp (NASDAQ:RBB) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Wednesday, May 1st will be given a dividend of 0.16 per share on Monday, May 13th. This represents a $0.64 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Tuesday, April 30th.

RBB Bancorp has increased its dividend by an average of 24.7% annually over the last three years and has raised its dividend every year for the last 3 years. RBB Bancorp has a payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RBB Bancorp to earn $1.72 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 37.2%.

RBB Bancorp Trading Up 5.2 %

NASDAQ:RBB opened at $17.83 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 1.09. RBB Bancorp has a one year low of $8.62 and a one year high of $20.22. The business’s 50-day simple moving average is $17.40 and its 200 day simple moving average is $16.49. The stock has a market cap of $331.99 million, a price-to-earnings ratio of 7.34 and a beta of 0.96.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Monday, January 22nd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.35 by $0.08. RBB Bancorp had a return on equity of 8.36% and a net margin of 19.06%. The business had revenue of $33.06 million for the quarter, compared to analysts’ expectations of $27.60 million. As a group, sell-side analysts predict that RBB Bancorp will post 1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on RBB. Stephens reissued an “equal weight” rating and issued a $19.00 price objective on shares of RBB Bancorp in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on RBB Bancorp from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Finally, TheStreet raised RBB Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, December 27th.

Insider Activity

In related news, Director James Kao bought 12,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was bought at an average cost of $18.05 per share, with a total value of $216,600.00. Following the completion of the acquisition, the director now owns 460,376 shares of the company’s stock, valued at $8,309,786.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 35,977 shares of company stock valued at $624,060. 13.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RBB Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG bought a new position in RBB Bancorp in the 3rd quarter worth approximately $26,000. Tower Research Capital LLC TRC grew its holdings in RBB Bancorp by 169.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,726 shares of the company’s stock worth $26,000 after buying an additional 1,086 shares in the last quarter. FMR LLC grew its holdings in RBB Bancorp by 281.2% in the 1st quarter. FMR LLC now owns 2,836 shares of the company’s stock worth $44,000 after buying an additional 2,092 shares in the last quarter. Citigroup Inc. grew its holdings in RBB Bancorp by 10,322.4% in the 2nd quarter. Citigroup Inc. now owns 5,107 shares of the company’s stock worth $61,000 after buying an additional 5,058 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in RBB Bancorp by 145.4% in the 2nd quarter. Wells Fargo & Company MN now owns 6,373 shares of the company’s stock worth $76,000 after buying an additional 3,776 shares in the last quarter. 40.14% of the stock is owned by institutional investors.

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.