RBB Bancorp (NASDAQ:RBB) Given New $23.00 Price Target at Stephens

RBB Bancorp (NASDAQ:RBB) had its price target cut by Stephens from $25.00 to $23.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

RBB Bancorp Stock Up 0.6 %

NASDAQ:RBB opened at $18.66 on Wednesday. The stock has a fifty day simple moving average of $21.02 and a 200-day simple moving average of $22.21. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66. The company has a market cap of $330.10 million, a price-to-earnings ratio of 10.09 and a beta of 0.97. RBB Bancorp has a twelve month low of $16.49 and a twelve month high of $25.30.

RBB Bancorp (NASDAQ:RBB) last issued its earnings results on Monday, February 3rd. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.94% and a net margin of 14.50%. Analysts anticipate that RBB Bancorp will post 1.59 EPS for the current year.

RBB Bancorp Announces Dividend

The firm also recently announced 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. This represents a $0.64 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, January 31st. RBB Bancorp’s payout ratio is 34.59%.

Insider Activity

In other RBB Bancorp news, CEO David Richard Morris sold 9,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total transaction of $224,010.00. Following the completion of the transaction, the chief executive officer now owns 37,722 shares of the company’s stock, valued at $938,900.58. This represents a 19.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Fan sold 12,000 shares of the 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.

Hedge Funds Weigh In On RBB Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd purchased a new position in RBB Bancorp in the fourth quarter worth approximately $29,000. BNP Paribas Financial Markets boosted its position in shares of RBB Bancorp by 13.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock worth $86,000 after purchasing an additional 444 shares during the period. SG Americas Securities LLC acquired a new stake in RBB Bancorp in the 3rd quarter valued at approximately $134,000. AQR Capital Management LLC purchased a new stake in RBB Bancorp in the second quarter valued at approximately $244,000. Finally, Franklin Resources Inc. acquired a new position in RBB Bancorp during the third quarter worth $252,000. 40.14% of the stock is owned by hedge funds and other 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.